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  • Question
  • The total sum of the goods and services produced in a country in a year, minus depreciation is called as ________.


  • Options
  • A. Net Domestic Product
  • B. Gross National Income
  • C. Gross Domestic Product
  • D. Net National Product

  • Correct Answer
  • Net Domestic Product 

    Explanation

    Gross Domestic Product : 

    It is the total value of all final goods and services produced within the boundary of country during the given period of time. 

    Gross National Product :

    It is the total value of the total output or production of final goods and services produced by the nationals of a country during a given period of time. 

    Gross National Income : 

    It is the total domestic and foreign output claimed by residents of a country, consisting of gross domestic product (GDP) plus factor incomes earned by foreign residents, minus income earned in the domestic economy by non-residents.

    Net National Product :

    The total value of goods produced and services provided in a country during one year, after depreciation of capital goods has been allowed for.

  • Tags: Bank Exams, CAT, Bank Clerk, Bank PO

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