Question
The National Income of a country (India) is equal to which of the following:
Answer: Option B
Answer: (b)
National Income (NI) and Net National Income (NNI) are the same terms and are used interchangeably.
National Income = Net National Income (NNI) = Net National Product (NNP)
Earlier (before January 2015) NSO was using factor cost to calculate NNP but now it uses Market Prices to calculate NNP.
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Answer: (b)
National Income (NI) and Net National Income (NNI) are the same terms and are used interchangeably.
National Income = Net National Income (NNI) = Net National Product (NNP)
Earlier (before January 2015) NSO was using factor cost to calculate NNP but now it uses Market Prices to calculate NNP.
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