Economics · National Income Accounting
Which of the following identities is NOT correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Private Income = Factor income from net domestic product accruing to the private sector + National debt interest + Net factor income from abroad + Current transfers from government + Other net transfers from the rest of the world
- 2Net National Product at factor cost ≡ Net National Product at market prices - Net indirect taxes (Net indirect taxes ≡ Indirect taxes + Subsidies)✓
- 3National Disposable Income = Net National Product at market prices + Other current transfers from the rest of the world
- 4Personal Disposable Income (PDI) ≡ Personal Income - Personal tax payments - Non-tax payments
Correct answer
Net National Product at factor cost ≡ Net National Product at market prices - Net indirect taxes (Net indirect taxes ≡ Indirect taxes + Subsidies)
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