With = GDP at factor cost, = GDP at market price, = Net National Product at factor cost, and standard symbols , which expressions are CORRECT?
Select all that apply.
IIT JAM 2023 Question 37: National income accounting
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Plain-text version
With GDP_F = GDP at factor cost, GDP_M = GDP at market price, NNP_F = Net National Product at factor cost, and standard symbols C,I,G,X,M,T,S,D,NIA, which expressions are CORRECT? (A) GDP_F = C+I+G+X-M (B) GDP_M = C+I+G+X-M (C) NNP_F = C+I+G+X-M-T+S-D+NIA (D) NNP_F = C+I+G+X-M-T+S-D
National income accounting has come up 132 times in 6 exams since 2010.
What this question tests
This question is on GDP, GNP, NDP and national income, part of National income accounting in Macroeconomics.
Converting between GDP, GNP, net product and national income, and between market prices and factor cost.
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