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Yatin

· started a discussion

· 1 Months ago

Wrong definition of GDP (Question: 189406.0 )

in this question the answer should be Net National Product. There is depreciation component in GDP, that's why it is called "Gross".

Question:

Which term refers to the total value of all goods and services produced by all resident units during a certain period of time, minus the total value of Input of goods of non-fixed assets and services?

Options:
A)

Gross Domestic Product

B)

Per Capita Product

C)

Gross National Product

D)

Net National Product

E)

Gross Capital Formation

Solution:

Gross Domestic Product (GDP) in its value form refers to the total value of all goods and services produced by all resident units during a certain period of time, minus the total value of Input of goods of non-fixed assets and services. In other term, It Is the sum of the value-added of all resident units.

Abhishek Nath

· commented

· 1 Months ago

Yes, well spotted... Actually the question was faulty

Yatin

· commented

· 1 Months ago

There is *no depreciation component
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