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For a closed economy (with no foreign trade), which one of the following is correct? - Economics

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Question

For a closed economy (with no foreign trade), which one of the following is correct?

Options

  • GDP = GNP

  • GDP > GNP

  • GDP < GNP

  • GDP + GNP = 0

MCQ
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Solution

GDP = GNP

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Gross and Net Domestic Product at Market Price
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