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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


Team Careers360 9th Jan, 2024
Answer (1)
Team Careers360 12th Jan, 2024

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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