In terms of economics, the total value of the output (goods and services) produced and income received in a year by a domestic residents of a country put together is called:

INDIAN ECONOMY

Please wait while the activity loads.
If this activity does not load, try refreshing your browser. Also, this page requires javascript. Please visit using a browser with javascript enabled.

If loading fails, click here to try again

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	Net National Product
B	Gross National Product
C	Gross National Income
D	National Income

Explanation:

Detailed explanation-1: -Gross national product (GNP) is an estimate of the 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.

Detailed explanation-2: -GDP is the total value of all final goods and services produced during a particular period valued at prices in that period.

Detailed explanation-3: -Gross domestic product (GDP) is the total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period.

Detailed explanation-4: -GDP is the sum total of the goods and services produced within a country, used to compare countries’ economic performance. GDP can be measured by calculating consumption and investment, the value of final goods, or total income.

There is 1 question to complete.

GENERAL KNOWLEDGE

GK

INDIAN ECONOMY