Answer-With reference to the Gross Domestic Product (GDP), select the correct statement from the option giv...

The term gross, means the same thing in Economics and Commerce as total means in Mathematics. The term domestic means all economic activities done within the boundary of a nation country and by its own capital The term product is used to define goods and services together and final means the stage of a product after which there is no known chance of value addition in it.

Question

With reference to the Gross Domestic Product (GD

P , select the correct statement from the option given below:

A For effective measurement, it is also calculated only by adding national private consumption, trade balance (exports minus imports) and government spending.

B Gross, means the same thing in Economics and Commerce as ‘total’ means in Mathematics.

C The use of the exports-minus-imports factor, is to add the expenditures on imports not produced in the nation only.

D GDP is a qualitative concept and its growth indicates development.

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