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Answer:- The value of gross national product will be greater than Gross Domestic Product, when value of Net Factor Income from Abroad is positive. Explanation:- Gross National Product = Gross Domestic Product + Net Factor Income from Abroad
Answer:- National Income = NDP at FC + Net Factor income from abroad.
Answer:- Depreciation is added in NNP at MP to arrive at GNP at MP. Explanation:- GNP at MP = NNP at MP + Depreciation
Answer:- NNP at FC = GNP at MP – Net Indirect tax – Depreciation.
Answer:- NDP at FC is also known as Domestic Income. Explanation:- Net Domestic Product at Factor Cost (NDP at FC) is known as Domestic Income in short.
Answer:- GDP at MP, GDP at FC, NDP at MP and NDP at FC are four Domestic concepts. Explanation:- Domestic Income is calculated in four aggregates. GDP at MP = Gross Domestic Product at Market Price GDP at FC =…
Answer:- NNP at FC is also known as National Income. In Short Net National Product at Factor Cost (NNP at FC) is known in short as National Income.
Answer:- Net domestic product at factor cost is more than national income when net factor income from abroad is Negative. Explanation:- National Income = Net Domestic Product at Factor Cost + Net Factor income from abroad. But When Net Factor…
Answer:- GNP at MP, GNP at FC NNP at MP and NNP at FC are four National concepts.
Ans – (c) Statement 1: it’s true a person can be a citizen of one country and at the same a resident of another country. An American citizen living earning and spending in India is a resident of India but…