The market value of all final goods and services produced in a year inside the boundary of a nation is called ______.

NNP (Net National Product)

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GNP (Gross National Product)

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GDP (Gross Domestic Product)

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none of the above

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Solution

The correct option is D GDP (Gross Domestic Product)
The gross domestic product is the broad quantitative measure of economic activity. It is the measure of the market value of all final goods and services produced in a year inside the boundary of a country.

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Similar questions

Consider the following statements: -

1. National disposable income includes Net National Product at Market prices only.

2. GDP is a measure of National Income/ National output and National expenditure produced in a particular country.

3. GNP includes the value of all goods and services produced by nationals whether in the country a abroad.

4. GNP does not include dividends and interest from abroad in Income.

Which of the above statements is are correct?

If the national income is measured as an aggregate value of all final goods and services produced by all the firms it is called _______.

Market price of the final goods and services including depreciation produced within the domestic territory of a country during an accounting year is called

Market price of the final goods and services (including depreciation) produced within the domestic territory of a country during an accounting year, is called :

Q. A state’s (NDP) is an annual measure of the economic output of a state. NDP stands for ____.

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The market value of all final goods and services produced in a year inside the boundary of a nation is called ______.

The correct option is D GDP (Gross Domestic Product)The gross domestic product is the broad quantitative measure of economic activity. It is the measure of the market value of all final goods and services produced in a year inside the boundary of a country.

The correct option is D GDP (Gross Domestic Product)
The gross domestic product is the broad quantitative measure of economic activity. It is the measure of the market value of all final goods and services produced in a year inside the boundary of a country.