Question
Which of the following is equivalent to National income?
Answer: Option D
Answer: (d)
NNP at factor cost is equivalent to national income. Net National Product at factor cost is the aggregate payments made to the factors of production.
NNP at FC is the total incomes earned by all the factors of production in the form of wages, profits, rent, interest etc. plus net factor income from abroad.
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Answer: (d)
NNP at factor cost is equivalent to national income. Net National Product at factor cost is the aggregate payments made to the factors of production.
NNP at FC is the total incomes earned by all the factors of production in the form of wages, profits, rent, interest etc. plus net factor income from abroad.
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