Economics · National Income Accounting
Which of the following best explains why GDP at factor cost was historically preferred in Indian national income accounting for policy analysis?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1It captured environmental degradation
- 2It automatically adjusted for inflation
- 3It reflected payments actually received by factors of production✓
- 4It included net factor income from abroad
Correct answer
It reflected payments actually received by factors of production
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