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Which one of the following statements is true regarding Gross National Income?
(a)It is the income earned by a country's Residents.
(b)It is the income earned by a country's residents and non-residents both.
(c)It is calculated at variable market price by NSO.
(d)It is equal to GDP plus exports minus imports.
(e)None of these

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Important Questions on Indian Economy
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i. While calculating GNP, income generated by foreigners in a country is taken into consideration
ii. While calculating GNP, income generated by nationals of a country outside the country is taken into account

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1. Savings account interest rate
2. Fixed deposit interest rate
3. Current account interest rate
Select the correct answer using the codes given below.

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i. While calculating GDP, income generated by foreigners in a country is taken into consideration
ii. While calculating GDP, income generated by nationals of a country outside the country is taken into account

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i. CSO is a premier statistical institution for collecting data in India
ii. It presents the national income estimates twice a year.

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1. India’s GDP is more than its GNP.
2. Net Factor Income from Abroad (NFIA) is positive for India.
Which of the statements given above is/are correct?

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