Question

33. If we exclude product taxes and subsidies, we arrive at
(1) gross value added
(2) gross domestic product
(3) net domestic product
(4) net domestic product at factor cost​

Answer 1

Answer:

Goods and services produced outside a nation's boundaries by the nation's own citizens and firms are included in GNP but are excluded from GDP. Goods and services produced within a nation's boundaries by foreign citizens and firms are excluded from GNP but are included in GDP.

Explanation:

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