Question

What is the formula of net value added at factor cost? When subsidy and indirect tax are given

Answer 1

Answer:

If net national product is given at market prices, indirect taxes and subsidies should be subtracted and added respectively in order to get the national income of the economy........

Formula= NNP(at factor cost)=NDP(at market price)-Indirect tax+Subsidies+Net factor income from Abroad.....

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