Q12. Consider the following statements with respect to Gross Domestic

1.	Q12. Consider the following statements with respect to Gross Domestic Product (GDP): 1. It is the value added by all the firms in the economy. 2. It is the final value of goods and services produced in the economy. 3. It is the sum of final consumption and investment expenditure by the household, private and government sector and net of exports and imports. 4. It is the income received by the four factors of production. Select the correct answer using the code given below.
Answer» Q12. Consider the following statements with respect to Gross Domestic Product (GDP): 1. It is the value added by all the firms in the economy. 2. It is the final value of goods and services produced in the economy. 3. It is the sum of final consumption and investment expenditure by the household, private and government sector and net of exports and imports. 4. It is the income received by the four factors of production. Select the correct answer using the code given below.

Q12. Consider the following statements with respect to Gross Domestic Product (GDP): 1. It is the value added by all the firms in the economy. 2. It is the final value of goods and services produced in the economy. 3. It is the sum of final consumption and investment expenditure by the household, private and government sector and net of exports and imports. 4. It is the income received by the four factors of production. Select the correct answer using the code given below.

Answer»

Q12. Consider the following statements with respect to Gross Domestic Product (GDP):

1. It is the value added by all the firms in the economy.

2. It is the final value of goods and services produced in the economy.

3. It is the sum of final consumption and investment expenditure by the household, private and government sector and net of exports and imports.

4. It is the income received by the four factors of production.

Select the correct answer using the code given below.