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National Income Aggregates & GDP · Question 34 of 69

What is GNP at factor cost?

Question 34

MediumOriginal question

Data for an economy:

Item₹ crore
GDP at market price1,000
Depreciation100
Net indirect taxes80
Net factor income from abroad−20

What is GNP at factor cost?

Options for question 34

Show the answer and explanation
CorrectNot quiteAnswer C

Correct answer: C

Explanation

  1. GNP at MP = 1,000 − 20 = 980.

  2. GNP at FC = 980 − 80 = ₹900 crore.

Concept
GNP at factor cost
Typical time
70 s
Your time
—
The rule this testsMarket price, factor cost and basic prices
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