SSC
WORLD GEOGRAPHY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The total value of goods and services produced in one year by a country?
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Gross Annual Income
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Gross Domestic Product
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General National Product
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Gross Domestic Value
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Explanation:
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: -Gross domestic product is the monetary value of all finished goods and services made within a country during a specific period. Gross national product (GNP) includes GDP, income earned by residents from overseas investments, minus income earned by foreign residents.
Detailed explanation-3: -Gross Domestic Product is the monetary value of all final goods and services produced in the economy within the year.
There is 1 question to complete.