GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is equivalent to National Income?
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Gross Domestic Product at market price
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Net Domestic Product at factor cost
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Net National Product at market price
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Net National Product at factor cost
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Explanation:
Detailed explanation-1: -The correct answer is NNPFC. NNP at factor cost is equal to national income. Net National Product at factor cost is the aggregate made to the factors of production.
Detailed explanation-2: -National Income formula equals GDP + Foreign Production by National Residents – Domestic Production by Non-National Residents.
There is 1 question to complete.