Economics · National Income Accounting
With reference to Net Domestic Product (NDP), consider the following statements: I. NDP is derived by adjusting gross domestic output for the wear and tear of fixed capital. II. If two economies record identical gross domestic output, the one with greater capital consumption will necessarily report a higher NDP. Which of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Neither I nor II
- 2Both I and II
- 3II only
- 4I only✓
Correct answer
I only
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