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GDP & GNP Quiz MCQ Practice

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1. GDP stands for:

  1. A. Gross Domestic Product
  2. B. Gross Domestic Price
  3. C. Government Development Plan
  4. D. General Domestic Product
Answer: Gross Domestic Product
Explanation: Gross Domestic Product — verified fact for GDP & GNP Quiz.
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2. The key difference between GDP and GNP is that GNP additionally accounts for:

  1. A. Only imports
  2. B. Only exports
  3. C. Net income from abroad
  4. D. Government spending only
Answer: Net income from abroad
Explanation: Net income from abroad — verified fact for GDP & GNP Quiz.
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3. In India, GDP estimates are released by the:

  1. A. Reserve Bank of India
  2. B. Ministry of Finance solely
  3. C. National Statistical Office (NSO)
  4. D. SEBI
Answer: National Statistical Office (NSO)
Explanation: National Statistical Office (NSO) — verified fact for GDP & GNP Quiz.
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