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About Complete Economy Notes by Anish Mohan (Updated)
The document provides an overview of key concepts related to measuring an economy including: 1) It defines national income as the net value of all final goods and services produced in a country in a given time period. 2) It outlines different concepts used to measure output including GDP, GNP, NNP, and NDP. GDP refers to the total value of final goods/services produced domestically, while GNP includes income earned abroad by citizens. 3) It explains the difference between nominal and real GDP, with real GDP adjusting for inflation to reflect the true growth of an economy.
Detailed Information
| Author: | ['Chinmay Jagtap'] |
|---|---|
| Publication Year: | 2024 |
| Pages: | 122 |
| Language: | English |
| Format: | |
| Price: | FREE |
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