Question : Net domestic product is calculated as_______.
Option 1: Gross Domestic Product (GDP) - Depreciation
Option 2: Gross National Product (GNP) - Depreciation
Option 3: Gross Domestic Product (GDP) - Net income earned from abroad
Option 4: Gross National Product (GNP) - Net income earned from abroad
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Correct Answer: Gross Domestic Product (GDP) - Depreciation
Solution : The correct option is Gross Domestic Product (GDP) - Depreciation .
The correct formula for Net Domestic Product (NDP) is Gross Domestic Product (GDP) minus depreciation.
NDP = GDP - Depreciation
where GDP represents the total value of all goods and services produced within the borders of a country within a specific time. Depreciation is a measure of the amount by which the value of a capital asset diminishes during its use in the production of goods and services.
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