What is GDP, NDP and NI and calculating GDP Concept introduction: GDP: GDP is the money value of all final goods and services produced with in the country during an accounting year. It is calculated by adding the values of consumption expenditure, investment expenditure, government expenditure and exports minus imports. That is C+I+G+X-M. NDP: It is calculated by subtracting depreciation that is the wear and tear costs incurred by the firms from the gross domestic product . (GDP-D) National income : It is the total income of the country. It is the net national product at factor cost.

Question

Want to see the full answer?

Answer 1

Question

Chapter 8, Problem 5P

To determine

What is GDP, NDP and NI and calculating GDP

Concept introduction:

GDP: GDP is the money value of all final goods and services produced with in the country during an accounting year. It is calculated by adding the values of consumption expenditure, investment expenditure, government expenditure and exports minus imports. That is C+I+G+X-M.

NDP: It is calculated by subtracting depreciation that is the wear and tear costs incurred by the firms from the gross domestic product. (GDP-D)

National income: It is the total income of the country. It is the net national product at factor cost.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 2

Question

Chapter 8, Problem 5P

To determine

What is GDP, NDP and NI and calculating GDP

Concept introduction:

GDP: GDP is the money value of all final goods and services produced with in the country during an accounting year. It is calculated by adding the values of consumption expenditure, investment expenditure, government expenditure and exports minus imports. That is C+I+G+X-M.

NDP: It is calculated by subtracting depreciation that is the wear and tear costs incurred by the firms from the gross domestic product. (GDP-D)

National income: It is the total income of the country. It is the net national product at factor cost.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 8, Problem 5P

To determine

What is GDP, NDP and NI and calculating GDP

Concept introduction:

GDP: GDP is the money value of all final goods and services produced with in the country during an accounting year. It is calculated by adding the values of consumption expenditure, investment expenditure, government expenditure and exports minus imports. That is C+I+G+X-M.

NDP: It is calculated by subtracting depreciation that is the wear and tear costs incurred by the firms from the gross domestic product. (GDP-D)

National income: It is the total income of the country. It is the net national product at factor cost.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 8, Problem 5P

To determine

What is GDP, NDP and NI and calculating GDP

Concept introduction:

GDP: GDP is the money value of all final goods and services produced with in the country during an accounting year. It is calculated by adding the values of consumption expenditure, investment expenditure, government expenditure and exports minus imports. That is C+I+G+X-M.

NDP: It is calculated by subtracting depreciation that is the wear and tear costs incurred by the firms from the gross domestic product. (GDP-D)

National income: It is the total income of the country. It is the net national product at factor cost.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 5

Chapter 8, Problem 5P

To determine

What is GDP, NDP and NI and calculating GDP

Concept introduction:

GDP: GDP is the money value of all final goods and services produced with in the country during an accounting year. It is calculated by adding the values of consumption expenditure, investment expenditure, government expenditure and exports minus imports. That is C+I+G+X-M.

NDP: It is calculated by subtracting depreciation that is the wear and tear costs incurred by the firms from the gross domestic product. (GDP-D)

National income: It is the total income of the country. It is the net national product at factor cost.

Answer 6

Chapter 8, Problem 5P

To determine

What is GDP, NDP and NI and calculating GDP

Concept introduction:

GDP: GDP is the money value of all final goods and services produced with in the country during an accounting year. It is calculated by adding the values of consumption expenditure, investment expenditure, government expenditure and exports minus imports. That is C+I+G+X-M.

NDP: It is calculated by subtracting depreciation that is the wear and tear costs incurred by the firms from the gross domestic product. (GDP-D)

National income: It is the total income of the country. It is the net national product at factor cost.

Answer 7

Chapter 8, Problem 5P

To determine

What is GDP, NDP and NI and calculating GDP

Concept introduction:

GDP: GDP is the money value of all final goods and services produced with in the country during an accounting year. It is calculated by adding the values of consumption expenditure, investment expenditure, government expenditure and exports minus imports. That is C+I+G+X-M.

NDP: It is calculated by subtracting depreciation that is the wear and tear costs incurred by the firms from the gross domestic product. (GDP-D)

National income: It is the total income of the country. It is the net national product at factor cost.

Answer 8

Expert Solution & Answer

Answer 9

Expert Solution & Answer

Answer 10

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 11

Ch. 8 - Prob. 8.1LO Ch. 8 - Prob. 8.2LO Ch. 8 - Prob. 8.3LO Ch. 8 - Prob. 8.4LO Ch. 8 - Prob. 8.5LO Ch. 8 - Prob. aFCT Ch. 8 - Prob. bFCT Ch. 8 - Prob. cFCT Ch. 8 - Prob. dFCT Ch. 8 - Prob. eFCT

Want to see the full answer?

Chapter 8 Solutions