Question

Given below are two statements:
Statement I : Gross Domestic product (GDP) is the final value of the goods and services produced within the geographical boundaries of a country during a year. 
Statement II : Net Domestic Product (NDP) equals to the GDP plus depreciation (value loss of an asset) on country capital goods.
In the light of the above statements, choose the most appropriate answer from the options given below:

• A. Both Statement I and Statement II are correct
• B. Statement I is incorrect but Statement II is correct
• C. Both Statement I and Statement II are incorrect
• D. Statement I is correct but Statement II is incorrect

Answer 1

The Correct Option is C

The Correct answer is option (C) : Both Statement I and Statement II are incorrect