Question : GNP at MP less ___________ gives us GDP at MP.
Option 1: depreciation
Option 2: indirect taxes
Option 3: Net Factor Income from Abroad
Option 4: subsidies
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Correct Answer: Net Factor Income from Abroad
Solution : The correct answer is Net Factor Income from Abroad .
The equation is GDP MP = GNP MP − Net Factor Income from Abroad (NFIA) .
In the context of national income accounting, subtracting Net Factor Income from Abroad from Gross National Product at Market Prices gives us Gross Domestic Product at Market Prices. Net Factor Income from Abroad represents the difference between the income earned by a country's residents from their investments and work abroad and the income earned by foreign residents within the country. This adjustment is made to focus on domestic production within the country's borders.
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