Statements on GDP and NDP
CMAT 2023 · General Knowledge · Medium · General Knowledge
Given below are two statements: Statement I: Gross Domestic Product (GDP) is the final value of the goods and services produced within the geographical boundaries of a country during a year. Statement II: GDP equals the Net Domestic Product (NDP) plus depreciation (Value of loss of an asset) on country's capital goods.
In the light of the above statements, choose the most appropriate answer from the options given below
- A.
Both Statement I and Statement II are correct
- B.
Both Statement I and Statement II are incorrect
- C.
Statement I is correct but Statement II is incorrect
- D.
Statement I is incorrect but Statement II is correct
A
Explanation
Both statements correctly define GDP and its relationship with Net Domestic Product: .
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