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Question
Net National Product (NNP) at factor cost means _____.
Net National Product (NNP) at factor cost means _____.
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Solution
The correct option is A National Income
- National Income = GNP - depreciation.
- GNP stands for Gross National Product.
- GNP is the market value of all goods and services produced and sold in a given year.
- GNP = Value of (Consumer goods and services + Capital goods + Goods and services by the government).
- National Income = GNP - depreciation.
- GNP stands for Gross National Product.
- GNP is the market value of all goods and services produced and sold in a given year.
- GNP = Value of (Consumer goods and services + Capital goods + Goods and services by the government).
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