Economics · Economy
National Income (NI) is conceptually equivalent to Net National Product at Factor Cost (NNPFC). Which of the following formulas correctly derives National Income from Gross Domestic Product at Market Price (GDPMP)?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1NI = GDPMP - Depreciation - Net Factor Income from Abroad (NFIA) - Net Indirect Taxes (NIT)
- 2NI = GDPMP - Depreciation + Net Factor Income from Abroad (NFIA) - Net Indirect Taxes (NIT)✓
- 3NI = GDPMP - Depreciation - Net Factor Income from Abroad (NFIA) + Net Indirect Taxes (NIT)
- 4NI = GDPMP + Net Factor Income from Abroad (NFIA) - Net Indirect Taxes (NIT)
Correct answer
NI = GDPMP - Depreciation + Net Factor Income from Abroad (NFIA) - Net Indirect Taxes (NIT)
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