Question : Which one of the following is not a method for computing Gross National Product (GNP)?
Option 1: Income approach
Option 2: Expenditure approach
Option 3: Savings approach
Option 4: Value added approach
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Correct Answer: Income approach
Solution : The correct option is the Savings Approach .
The income approach, the spending approach and the value-added approach are the three approaches used to calculate GNP.
In the income approach, all revenue received within a nation's boundaries in a given year is totalled, including salaries, rentals, interest and profits.
The expenditure technique counts every dollar spent on finished products and services in an economy, which is divided into five categories: exports, imports, government spending, consumption, and investment.
The value-added method entails determining the value contributed at each stage of production and adding those amounts to get the final goods and services total worth.
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