JAMB - Economics (2017 - No. 14)
The production within domestic territory of a country is called the _____
net national product
gross domestic product
net income
disposable income
Forklaring
Gross domestic product (GDP) refers to the total money value of all the goods and services
produced in a country within a given time period but excluding net income from abroad. In
calculating GDP, emphasis is on earnings from citizens and foreign investment within the country.
Earnings of citizens and their investment abroad are excluded from GDP
produced in a country within a given time period but excluding net income from abroad. In
calculating GDP, emphasis is on earnings from citizens and foreign investment within the country.
Earnings of citizens and their investment abroad are excluded from GDP