Economics · National Income Accounting
Choose the INCORRECT equation among the following:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Personal Income = Private Income + Undistributed Corporate Profits - Profit Taxes✓
- 2NNP = GNP - Depreciation
- 3NDP = Gross Domestic Product - Depreciation
- 4NNP at market price = NNP at factor cost + Indirect taxes - Subsidies
Correct answer
Personal Income = Private Income + Undistributed Corporate Profits - Profit Taxes
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