National Product at Factor Cost is Equal to?
1. Domestic Product + Net factor income from abroad
2. National Product at market prices - indirect taxes + subsidies
3. Gross domestic product - depreciation
4. National product at market prices + indirect taxes + subsidies
CDS 2014, question.
I know Net National Product = GNP - Depreciation but no such option is there. Anyone, here?
Should the answer be "B"
as anything at factor cost will be minus indirect taxes and plus subsidies by simple logic?