Home › UP Board Class 12 › Economics › National Income Accounting › Gross Domestic Product (GDP) is the market value…
Gross Domestic Product (GDP) is the market value of all final goods and services produced:
Aover the last decade
Bwithin the domestic territory of a country in a year
Cincluding intermediate goods
Dby a country's citizens anywhere in the world
Answer & Solution
Correct answer: B. within the domestic territory of a country in a year
GDP = market value of all final goods/services produced within the domestic territory in a year.
Related questions
GDP and welfare are NOT identical because GDPWhy is NNP at FACTOR COST (rather than at market prices) called the National Income?If GDP at market prices = ₹500, depreciation = ₹50, net indirect taxes = ₹40, NFIA = ₹10, Which equation correctly states the EXPENDITURE method of GDP at market prices?Which is a TRANSFER payment in the macroeconomic framework?Personal Disposable Income (PDI) equalsIf NDP at factor cost is ₹100 lakh and net indirect taxes are ₹15 lakh, NDP at market pricWhich of the following is INCLUDED in GDP?