The production within domestic territory of a c... - JAMB Economics 2017 Question
The production within domestic territory of a country is called the _____
A
net national product
B
gross domestic product
C
net income
D
disposable income
correct option: b
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
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