Question : National Income is also called as :
Option 1: GNP at Factor Cost
Option 2: GNP at Market Price
Option 3: NNP at Factor Cost
Option 4: NNP at Market Price
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Correct Answer: NNP at Factor Cost
Solution : Correct Answer is NNP at factor costs
NNP at factor costs is another name for national product. It is the total of all incomes earned by citizens of a nation over a specific time period, taking into account capital consumption and depreciation. The national income includes both the GDP and the GNP. A country's economic activity can be determined by looking at its national income.
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