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Ans – (b) Explanation:- Net National Product (NNP) at Market Price = NNP at Factor cost + Net indirect taxes

Ans – (d) Explanation:- GNP = NNP + Depreciation Depreciation = GNP – NNP Depreciation = Gross net investment – Net investment Depreciation = Difference between gross and net investment

Ans – (b) Solution:- GNP at MP = GDP at FC – Net factor income to abroad + Net indirect taxes (Indirect taxes – Subsidies) GNP at MP = ₹ 3,000 – ₹ 200 + ₹ 420 – ₹ 240…

Ans – (c) Explanation:- National Income (NDP at FC) = Net National Product at Market Price – Net indirect taxes (indirect taxes – subsidies) National Income (NDP at FC) = Net National Product at Market Price – indirect taxes +…

Ans – (b) Explanation:- National Income = NDP at FC + Net factor incomes earned from abroad (Factor income from abroad – Factor income to abroad)

Ans – (a) Explanation:- National Income = Net domestic product at Factor cost + Net Factor income from abroad For example:- National Income = ₹ 400 Crores Net Factor income from abroad = ₹ 50 Crores Net Domestic product at…

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…

Ans – (b) Explanation In a closed economy, there is no economic activity with the rest of the world. Thus Net factor income from abroad is zero. National Income = Domestic Income + NFIA National Income = Domestic Income  

Ans – (d) Explanation:- Operating Surplus = Rent + Royalty + Interest + profit

Ans – (b) Explanation:- National Income at Market Price – Net indirect taxes (indirect taxes – Subsidies) National Income at Factor cost = National Income at Market Price + Subsidies – indirect taxes We would still get National Income but…