SSC
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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National Product
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Net Domestic Product
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Gross Domestic Product
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None of these
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Detailed explanation-1: -GDP measures the monetary value of final goods and services-that is, those that are bought by the final user-produced in a country in a given period of time (say a quarter or a year). It counts all of the output generated within the borders of a country.
Detailed explanation-2: -Description: Gross National Product (GNP) is Gross Domestic Product (GDP) plus net factor income from abroad. It measures the monetary value of all the finished goods and services produced by the country’s factors of production irrespective of their location.
Detailed explanation-3: -Gross national product is the value of all products and services produced by the citizens of a country both domestically, and internationally minus income earned by foreign residents.