WAEC Economics 2011 Objective — Question 30
Question 30 of 50 from the West African Examinations Council (WAEC) Economics 2011 Objective paper, with the correct answer and a full explanation.
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Which of the following equations is appropriate for determining the Net Domestic Product (NDP)?
- A. A. NDP = GNP - depreciation
- B. B. NDP = GDP + Net income from abroad
- C. C. NDP = GDP - depreciationCorrect
- D. D. NDP = GDP x Net income from abroad
Explanation
Gross Domestic Product is the total output produced in a year in an economy. When we remove the wear and tear which is called depreciation, it remains Net Domestic Product.
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