{"id":3612,"date":"2024-03-05T15:52:48","date_gmt":"2024-03-05T15:52:48","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=3612"},"modified":"2024-03-05T15:52:48","modified_gmt":"2024-03-05T15:52:48","slug":"which-of-the-following-statement-is-correct","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-statement-is-correct\/","title":{"rendered":"Which of the following  statement is correct ?"},"content":{"rendered":"<p>\r\n    <!-- Check if it's an AMP page -->\r\n            <!-- Non-AMP version -->\r\n        <div class=\"mcq-container\" data-quiz-id=\"quizState_6a972c6b4e3a6\">\r\n                                            <div class=\"option\" data-option-key=\"option1\" data-is-correct=\"false\">\r\n                    NNP = GNP \u00e2\u0080\u0093 Depreciation                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option2\" data-is-correct=\"true\">\r\n                    NNP = GDP + Net Income from abroad \u00e2\u0080\u0093 Depreciation                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option3\" data-is-correct=\"false\">\r\n                    Both (a) and (b) are correct                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option4\" data-is-correct=\"false\">\r\n                    None of these                 <\/div>\r\n                            \r\n            <!-- Feedback messages for non-AMP -->\r\n            <div class=\"feedback\" data-feedback=\"wrong\">Answer is Right!<\/div>\r\n            <div class=\"feedback\" data-feedback=\"right\">Answer is Wrong!<\/div>\r\n        <\/div>\r\n\r\n        <script>\r\n        document.addEventListener('DOMContentLoaded', function () {\r\n            var containers = document.querySelectorAll('.mcq-container');\r\n\r\n            containers.forEach(function(container) {\r\n                var options = container.querySelectorAll('.option');\r\n                var feedbackSelect = container.querySelector('[data-feedback=\"select\"]');\r\n                var feedbackWrong = container.querySelector('[data-feedback=\"wrong\"]');\r\n                var feedbackRight = container.querySelector('[data-feedback=\"right\"]');\r\n\r\n                options.forEach(function(option) {\r\n                    option.addEventListener('click', function() {\r\n                        var selectedOption = option.getAttribute('data-option-key');\r\n                        var isCorrect = option.getAttribute('data-is-correct') === 'true';\r\n\r\n                        \/\/ Remove previous selections\r\n                        options.forEach(function(opt) {\r\n                            opt.classList.remove('correct', 'incorrect');\r\n                        });\r\n\r\n                        \/\/ Add the correct\/incorrect class\r\n                        if (isCorrect) {\r\n                            option.classList.add('correct');\r\n                            feedbackRight.hidden = false;\r\n                            feedbackWrong.hidden = true;\r\n                        } else {\r\n                            option.classList.add('incorrect');\r\n                            feedbackRight.hidden = true;\r\n                            feedbackWrong.hidden = false;\r\n                        }\r\n\r\n                        \/\/ Hide select feedback\r\n                        feedbackSelect.hidden = true;\r\n                    });\r\n                });\r\n            });\r\n        });\r\n        <\/script>\r\n    \r\n    <!--more--><\/p>\n<p>The correct answer is (b).<\/p>\n<p>Net national product (NNP) is the total market value of all final goods and services produced by a country&#8217;s residents in a given year, minus depreciation. It is calculated by adding gross domestic product (GDP) to net income from abroad and then subtracting depreciation.<\/p>\n<p>GDP is the total <div class=\"youtube-subscribe-container\">\r\n        <a href=\"https:\/\/www.youtube.com\/channel\/UCNHT8lW-JmLC68rjBfZhdkg?sub_confirmation=1\" target=\"_blank\" class=\"youtube-subscribe-button\">\r\n            <span class=\"youtube-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 576 512\">\r\n                    <path d=\"M549.7 124.1c-6.3-23.7-24.8-42.3-48.3-48.6C458.8 64 288 64 288 64S117.2 64 74.6 75.5c-23.5 6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Subscribe on YouTube\r\n        <\/a>\r\n <div class=\"telegram-channel-container\">\r\n        <a href=\"https:\/\/t.me\/pscnotes2025\" target=\"_blank\" class=\"telegram-channel-button\">\r\n            <span class=\"telegram-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 496 512\">\r\n                    <path fill=\"white\" d=\"M248,8C111,8,0,119,0,256s111,248,248,248s248-111,248-248S385,8,248,8z M362,177L320,367c-3,14-10,18-20,14l-56-41l-27,26 c-3,3-5,5-10,5l4-63L323,196c5-5-1-7-8-3l-98,62l-42-13c-9-3-10-9,2-14l162-63C351,160,365,164,362,177z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Join Our Telegram Channel\r\n        <\/a>\r\n    <\/div>    <\/div> market value of all final goods and services produced within a country&#8217;s borders in a given year. It is calculated by adding up the value of all goods and services produced by businesses, households, and governments.<\/p>\n<p>Net income from abroad is the income that a country&#8217;s residents earn from investments abroad, minus the income that foreigners earn from investments in the country.<\/p>\n<p>Depreciation is the decrease in the value of capital goods over time due to wear and tear.<\/p>\n<p>Therefore, NNP is calculated as follows:<\/p>\n<p>NNP = GDP + Net income from abroad &#8211; Depreciation<\/p>\n<p>(a) NNP = GNP \u00e2\u0080\u0093 Depreciation is incorrect. GNP is gross national product, which is the total market value of all final goods and services produced by a country&#8217;s residents in a given year, regardless of where they are located. It is calculated by adding up the value of all goods and services produced by businesses, households, and governments, both within and outside the country&#8217;s borders. NNP is different from GNP because it subtracts depreciation.<\/p>\n<p>(c) Both (a) and (b) are correct is incorrect. (a) is incorrect, as explained above.<\/p>\n<p>(d) None of these is correct.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Join Our Telegram Channel Subscribe on YouTube<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Which of the following statement is correct ?<\/title>\n<meta name=\"description\" content=\"Net national product (NNP) is the total market value of all final goods and services produced by a country&#039;s residents in a given year, minus depreciation. 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It is calculated by adding gross domestic product (GDP) to net income from abroad and then subtracting depreciation.","og_url":"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-statement-is-correct\/","og_site_name":"MCQ and Quiz for Exams","article_published_time":"2024-03-05T15:52:48+00:00","author":"rawan239","twitter_card":"summary_large_image","twitter_misc":{"Written by":"rawan239","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-statement-is-correct\/","url":"https:\/\/exam.pscnotes.com\/mcq\/which-of-the-following-statement-is-correct\/","name":"Which of the following statement is correct ?","isPartOf":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#website"},"datePublished":"2024-03-05T15:52:48+00:00","dateModified":"2024-03-05T15:52:48+00:00","author":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/5807dafeb27d2ec82344d6cbd6c3d209"},"description":"Net national product (NNP) is the total market value of all final goods and services produced by a country's residents in a given year, minus depreciation. 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