Question : Statement 1: Net Domestic Product (NDP) is obtained by deducting depreciation from Gross Domestic Product (GDP).

Statement 2: Depreciation represents the loss in value of capital goods over time.

Option 1: Statement 1 is true, and Statement 2 is false.

Option 2: Statement 1 is false, and Statement 2 is true.

Option 3: Both Statement 1 and Statement 2 are true.

Option 4: Both Statement 1 and Statement 2 are false.

Question : Statement 1: Gross Domestic Product (GDP) measures the value of all final goods and services produced within a country's borders.

Statement 2: Gross National Product (GNP) measures the value of all final goods and services produced by a country's residents, regardless of their location.

Option 1: Statement 1 is true, and Statement 2 is false.

Option 2: Statement 1 is false, and Statement 2 is true.

Option 3: Both Statement 1 and Statement 2 are true.

Option 4: Both Statement 1 and Statement 2 are false.

Question : Gross Domestic Product (GNP) - Depreciation allowances = ____________.

Option 1: National Income

Option 2: Net Domestic Product (NDP)

Option 3: Net National Product (NNP)

Option 4: Gross National Product (GNP)

Question : Which of the following is a measure of national income that takes into account the value of goods and services produced by a country's residents both domestically and abroad?

Option 1: Gross Domestic Product (GDP)

Option 2: Gross National Product (GNP)

Option 3: Net Domestic Product (NDP)

Option 4: Net National Product (NNP)

Question : Which of the following is a measure of national income that takes into account the value of goods and services produced by a country's residents both domestically and abroad?

Option 1: Gross Domestic Product (GDP)

Option 2: Gross National Product (GNP)

Option 3: Net Domestic Product (NDP)

Option 4: Net National Product (NNP)