WBCS.LIVE practice question

Which of the following is the correct sequence of national income from broader to narrower concepts?

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

Answer options

  1. GNP at market prices - NNP at market prices - GNP at factor cost - NNP at factor cost
  2. Personal disposable income - Personal income - GNP at market prices - GNP at factor cost
  3. GNP at factor cost - GNP at market prices - NNP at market prices - Personal income
  4. GNP at factor cost - NNP at factor cost - Personal income - Personal disposable income

Correct answer and explanation

Correct answer: GNP at factor cost - NNP at factor cost - Personal income - Personal disposable income