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Regarding GDP, consider the following statements:
1. Salaries earned by foreign employees in Mumbai are included in India’s GDP.
2. Salaries earned by Indian employees in British High Commission to India are included in India’s GNP but not in GDP.
3. GDP is both a qualitative and a quantitative concept.
Which of the above statement is/are correct?
1 only
1 and 2 only
2 and 3 only
2 only
The Salary of a foreign citizen working in India, as well as profits earned by a foreign company working in India, will be added to the GDP calculation and would be excluded in the calculation of Gross National Product.GDP only includes goods and services produced within the country's borders, regardless of whether domestic or foreign factors of production produced them.
GDP is a qunatitative concept not qualitative
By: Parvesh Mehta ProfileResourcesReport error
Gurmehak kaur
Statement 1 is wrong
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