Which of the following can be used to measure the Gross National product in an...

Economics

JAMB 2014

Which of the following can be used to measure the Gross National product in an open economy?

A. C+I+G+(X+M)
B. C+I+G+X
C. C+I+G
D. C+I+G+(X-M)

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Correct Answer: Option D

Explanation

The formula to calculate the components of GNP is Y = C + I + G + X + Z. That stands for

GNP = Consumption + Investment + Government + X (net exports, or imports - exports) - Z (net income earned by domestic residents from overseas investments - net income earned by foreign residents from domestic investments.)

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