Question

Which of the following best describes the relationship between GSDP and GDP?

• A. GSDP is always greater than GDP.
• B. GSDP and GDP are two names for the same thing.
• C. GDP is the sum of all GSDPs of a country.
• D. GSDP is calculated by subtracting a state's exports from its GDP.

Answer 1

Answer:

C. GDP is the sum of all GSDPs of a country.

• Gross Domestic Product (GDP) is the sum of all the economic outputs of the individual states and union territories (their GSDPs) plus the economic activity of the central government, representing the total economic output of a nation.