Which of the following equations correctly represents the relationship between Gross Domestic Product at Market Price (GDPMP) and Gross Domestic Product at Factor Cost (GDPFC)?

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Economics · National Income Accounting

Verified Solution4 OptionsUpdated: October 2026👁️1 View

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Correct answer

GDPMP = GDPFC + Net Indirect Taxes (NIT)

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Answer 1

GDPMP = GDPFC + Subsidies

Answer 2

GDPMP = GDPFC - Depreciation

Answer 3

GDPMP = GDPFC + Net Indirect Taxes (NIT)

Answer 4

GDPMP = GDPFC - Net Factor Income from Abroad (NFIA)

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