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● Statement 1 incorrect: Net Domestic Product (NDP) is the GDP calculated after adjusting the weight of the value of ‘depreciation’. This is, basically, the net form of the GDP, i.e., GDP minus the total value of the ‘wear and tear’ (depreciation) that happened in the assets while the goods and services were being produced. o Thus, NDP = GDP - Depreciation. Statement 2 incorrect: The NDP of an economy has to be always lower than its GDP for the same year, since there is no way to cut the depreciation to zero. But mankind has achieved too much in this area through developments, such as ‘ballbearing’, ‘lubricants’, etc., all innovated to minimise the levels of depreciation. ● Statement 3 correct: NDP has following usage: For domestic use: to understand the historical situation of the loss due to depreciation to the economy. To understand and analyse the sectoral situation of depreciation in industry and trade in comparative periods. To show the achievements of the economy in the area of research and development, which have tried cutting the levels of depreciation in a historical time period. NDP is not used for the comparative economies since the rate of depreciation is different for different countries. In India NDP is announced by the Ministry of Commerce and Industry.
National year of millets was observed in which year?
Pea, gulmohur, bean, Cassia have ___ type of symmetry and hance they are ____ flowers.
Non ionizing radiation includes
Which one of the following instrument measures Fiber fineness?
Globalisation of a country's economy would increase its
Parturition in cattle is known as
What is the type of farming when the annual rainfall is 750-1150 mm?
The form of nitrogen that is specific to denitrification is
Which of the following sequence regarding dominant trait in pea plant is incorrect?
Father of Botany is