What Is Gross Domestic Product,gross National Profit And Net National Profit?


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Lily James answered

The Gross Domestic Product is basically a measure of national income and input. It is defined as the total cost of all the finished products produced within a country in an year. It can be calculated through expenditure method:

GDP = Consumption  + Gross investment + Government Spending

Net National Product is basically National Income plus or minus statistical discrepancy. This discrepancy accumulates when the aggregating data from millions of individuals reports.

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