difference between National and domestic income is that of
(1 Point)
a) net indirect taxes
b) net factor income from abroad
c) consumption of fixed capital
d) both a and b
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Answer:
Yes, net indirect taxes will be included because market price = Factor cost + Net indirect taxes.
(ii) Yes, net exports (a component of expenditure method) will be included as It includes goods an services produced within the domestic territory of a country.
(iii) No, it will not be included as NDP
MP
is confined to domestic product only
(iv) No, it will not be included because Net Domestic Product = Gross Product − Consumption of Fixed Capital
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