Domestic factor income is another name for:
Domestic factor income is another name for:
(a) NDP at FC
(b) NNP at MP
(c) GDP at FC
(d) NNP at FC
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Ans – (a)
Explanation:-
Domestic income only includes factor income earned within the domestic territory by residents and non-residents both at factor cost after deduction of consumption of fixed capital.
Product and Income are synonyms in economic
Thus,
Domestic Factor income = NDP at FC (Net Domestic Product at Factor cost
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