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State Whether the Following Statement is True Or False. Gdp Includes Net Income from Abroad. - Economics

MCQ
True or False

State whether the following statement is true or false.

GDP includes net income from abroad.

Options

  • True

  • False

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Solution

GDP includes net income from abroad. - False
Explanation:
The above statement is incorrect. GDP is the value of all the goods and services produced during an accounting year within the domestic country. As GDP is limited to the domestic territory, it excludes the net factor income from abroad.

Concept: Concept of National Income
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APPEARS IN

Micheal Vaz Economics HSC 12th Standard Maharashtra State Board
Chapter 9 National Income
Exercise | Q 3.3 | Page 79
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