Net Domestic Product (NDP)is the Total Value of New Goods

question 135

True/False

Net domestic product (NDP)is the total value of new goods available in the economy after worn out capital goods have been replaced.

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Definitions:

Interest

The cost of borrowing money, typically expressed as a percentage of the amount borrowed, or the income earned on deposited funds.

Rent

A periodic payment made by a tenant to a landlord for the use of land, premises, or other property.

Surplus

An excess of income or assets over expenditure in a given period, often referring to a government's budget.

Quantity Supplied

The total amount of a good or service that producers are willing and able to sell at a given price over a specific period.