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Items Excluded in GDP

When is the n...

Question

When is the net domestic product at market price less than the net domestic product at factor cost?

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Solution

When net indirect taxes are negative i.e., subsidies are more than indirect taxes.

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Q. Net domestic product at factor cost is less than national income when ______________.

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Q. Are the following a part of a country's 'net domestic product at market price'? Explain.
(i) Net indirect taxes
(ii) Net exports
(iii) Net factor income from abroad
(iv) Consumption of fixed capital.

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Particulars	Rs. in crores
(i) Gross national product at market price (ii) Indirect Tax (iii) Subsidies (iv) Depreciation (v) Net Factor income from abroad	58,350 2,590 1,540 1,625 -240

Q. Distinguish between Gross Domestic Product at Market Price and National Income.

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