WAEC Economics 2011 Paper

Concept:Gross National Product (GNP) measures a country’s total output plus its net income from abroad.Explanation:A country's total output produced within its borders is called Gross Domestic Product, or $\mathrm{GDP}$.Net income from abroad is the income earned by domestic residents from overseas investments minus income earned by foreigners within the country.When this net income is added to the total domestic output, the resulting measure becomes Gross National Product, or $\mathrm{GNP}$.Thus, $\mathrm{GNP} = \mathrm{GDP} + \text{net income from abroad}$.The other options are incorrect because Net National Product subtracts depreciation, and the domestic product measures do not include foreign income.Answer:C. gross national product