Civil Services UPSC CAPF (Assistant Commandants) Test Series 2025 General Knowledge Economy National Income Accounting
Consider the following statements:
1. Gross Domestic Product (GDP) is always higher than the Gross National Product (GNP).
2. Net National Product (NNP) at factor cost is referred to as National Income.
3. GDP represents the sum total of Gross Value added in all sectors without adjusting for taxes and subsidies by the government.
Which of the statements given above is/are correct?
1
1 only
2
2 and 3 only
3
2 only
4
1, 2 and 3