WBCS.LIVE practice question

The relationship between which of the following is correct?

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. GDP at market price = price + quantity of final goods and services
  2. Domestic income = NDP at market price + net indirect taxes
  3. National income = NDP at factor cost + net factor income from abroad
  4. NDP at market price = GDP at market price + depreciation

Correct answer and explanation

Correct answer: National income = NDP at factor cost + net factor income from abroad