The value of the output of all goods and services produced within a nation's borders, normally given as a total for the year. It thus includes the production of foreign owned firms within the country, but excludes the income from domestically owned firms located abroad, is called:

Related MCQs

• The goods and services produced by one country that are sold in exchange for the second country’s own goods and services or for foreign exchange are called
• The total value of goods and services produced in a country during a given period is -
• The measure of the total flow of goods and services produced by the economy over a specified time period, normally a year or a quarter is referred to as
• The excess of the value of imports of goods and services over the value of exports of goods and services is called:
• Preferential treatment for firms that sell their products abroad, compared with firms that sell to the home market; is called:
• Which terns is used in economics for the market value of all goods and services in one year by labour and properly supplied by the residents of the country?
• What is the term used for the flow of goods and services that enter for sale into one country and which is product of another country?
• A trade of goods and services in the exchange for other goods or services rather than for money is known as:
• What is the term for total sales value divided by the number of units sold and thus equals to average price is?
• G.N.P. (Gross National Product) is the total value of goods and services: