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

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.


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