Which of the following are correct with respect to economic indicators 1 When Capital Consumption Al...........

Economic Affairs Growth and Indicators

Which of the following are correct with respect to economic indicators?

1. When Capital Consumption Allowance is taken out from GDP, the resultant is Net Domestic Product or NDP.

2. Net Factor Income subtracted from GDP, gives the value of Gross National Product or GNP.

3. Genuine progress Indicators take into account everything that GDP does, but also add factors like cost of crime, cost of pollution, etc.; i.e. negative effects of economic activity.

Choose the correct answer from the codes given below

All are correct

1 and 2

1 and 3

2 and 3

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Explanation:

Redefining Progress created the Genuine Progress Indicator (GPI) in 1995 as an alternative to the gross domestic product (GDP). The GPI enables policymakers at the national, state, regional, or local level to measure how well their citizens are doing both economically and socially.