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Define the following terms Gross Domestic Product Gross National Product National Income Personal Income Disposable Income

      

Define the following terms
Gross Domestic Product
Gross National Product
National Income
Personal Income
Disposable Income

  

Answers


Dana
Gross Domestic Product is the total money value for all final goods and services produced in a country during any given period of time usually one year
Gross National Product is the total money value of all final goods and services produced from all factors of production owned by the nationals of a country during any period regardless of where they are located
National Income refers to the amount of income earned by the factors of production in an economy during a certain period
Personal income is the total incomes of persons or households from all sources before taxation
Disposable income is the after tax personal income to households

Dana05 answered the question on July 18, 2019 at 19:43


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