If factor income from abroad and factor income to abroadis equal to each other thanGNP at MP is greater thanGDP at MP. True /False (give reason)
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NDP(at factor cost) + Depreciation = GNP(at market price) is not a valid statement if factor income received from abroad is equal to factor income paid abroad.
Correct statement would be as follows:
NDP(at factor cost) + Depreciation+ Net indirect tax = GNP(at market price).
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