Advertisements
Advertisements
Question
What is meant by Gross domestic product?
Advertisements
Solution
Gross National Product is the total value of goods and services produced and income received in a year by domestic residents of a country. It includes profits earned from capital invested abroad.
GNP = C + I + G + (X – M) + NFIA)
C = Consumption
I = Investment
G = Government Expenditure
X – M = Export – Import
NFIA = Net Factor Income from Abroad)
APPEARS IN
RELATED QUESTIONS
GDP is the indicator of _____ economy.
______ is the market value of all goods and services produced in the country.
The Goods and Services are measured in terms of ______ of that country.
India is ranked ______ in Globe as regard to GDP.
In order to know the performance of India, one should know the ______ of our country.
The price at which the goods are sold in the market is called ______.
“The final goods and services will not be a part of other goods and Services”, said by ______.
If the intermediate goods are included in the GDP, then it will result in ______.
GNHf is a philosophy instituted as the goal of government of ______.
Assertion (A): Intermediate goods are not counted in calculating the GDP.
Reason (R): Their value is already included in the final goods.
