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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