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  • Unit 5 Continued

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    Walton Fernandes
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    1) The document discusses key economic concepts such as Gross Domestic Product (GDP), Gross National Product (GNP), National Income (NI), and consumption. 2) It explains how GDP is calculated as the total market value of all final goods and services produced within a country in a given period of time, including goods and services used for private consumption and investment. 3) National income (NI) is defined as the total income earned from current production by the factors of production (labor and capital) owned by residents of a country.

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    1) The document discusses key economic concepts such as Gross Domestic Product (GDP), Gross National Product (GNP), National Income (NI), and consumption. 2) It explains how GDP is calculated as the total market value of all final goods and services produced within a country in a given period of time, including goods and services used for private consumption and investment. 3) National income (NI) is defined as the total income earned from current production by the factors of production (labor and capital) owned by residents of a country.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    13 views4 pages

    Unit 5 Continued

    Uploaded by

    Walton Fernandes
    1) The document discusses key economic concepts such as Gross Domestic Product (GDP), Gross National Product (GNP), National Income (NI), and consumption. 2) It explains how GDP is calculated as the total market value of all final goods and services produced within a country in a given period of time, including goods and services used for private consumption and investment. 3) National income (NI) is defined as the total income earned from current production by the factors of production (labor and capital) owned by residents of a country.

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    © All Rights Reserved
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    of 4

    elAsSMAte

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    ON NATIONAL NCOWEE
    A las 3sw_ Naut ona Modal

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    Gnd 20 paumus u qoocls and DesicL
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    ha
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