Question

7. National Income is often estimated as
(a) NDP RC
(b) NNP MP
(c) NDP MP
(d) NNP FC
8. Domestic product is equal to:
(a) National product + Net factor income from abroad
(b) National product - Net factor income from abroad
(c) National product * Net factor income from abroad
(d) National product : Net factor income from abroad
9. National Income includes
(a) old-age pensions
(b) money sent by an NRI to his family in India
(c) transfer payments from rest of the world
(d) none of these​

Answer 1

Answer:

NNP(at factor cost) + Depreciation = GNP(at factor cost)

GNP(at factor cost) - Net factor income from abroad = GDP(at factor cost)

GDP(at factor cost) + Net Indirect taxes = GDP(at market price)