Consider the following statements and identify which of the following are true?
- While calculating GDP, income generated by foreigners in a country is taken into consideration
- While calculating GDP, income generated by nationals of a country outside the country is taken into account
- While calculating GNP, income generated by foreigners in a country is taken into consideration
- While calculating GNP, income generated by nationals of a country outside the country is taken into account
1
Both 1 and 2
2
Both 3 and 4
3
Both 1 and 4
4
Both 2 and 3