Economy, asked by ashmidev007, 3 months ago

State the steps involved in the measurement of National income by value added method

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Answered by XxFashionableLadkaxX

Answer:

Calculate Domestic Income: To calculate the domestic income or Net Domestic Product at Factor Cost (NDPFC), net direct taxes and depreciation should be subtracted from GDPMP. The product method formula applicable here is NDPFC=GDPMP – depreciation - net direct taxes.

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