Question

A country's economic growth is possible when GNP increases at current prices (True / False)​

Answer 1

True,because

Gross national product (GNP) is an estimate of total value of all the final products and services turned out in a given period by the means of production owned by a country's residents which is the total income

that is related to the country's economic growth.

Answer 2

True. A country’s economic growth is indeed possible when GNP increases at current prices.  

Explanation:

• Gross National Product is represented by the term GNP and this depicts the summation of all the personal expenditures, investments are done, the governmental expenditure, the export value and the revenue earned by the residents.
• Therefore this shows the total output and revenue generation of the nation at any given time.
• Experts consider this economic aspect as an interesting and effective indicator of the economy.  

Learn more about Economic Growth:

Importance of sample survey in economic growth and development

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Economic Growth plus change means: –

a) Economic Development

(6) Sustainable Development

(c) National Income

(d) None of these

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