economics easy MCQ

Which of the following represents the purest measure of a country's National Income?

  1. GDP at Market Price
  2. NDP at Factor Cost
  3. NNP at Factor Cost
  4. GNP at Market Price

Answer: NNP at Factor Cost

Net National Product (NNP) at Factor Cost is universally recognized as 'National Income'. It represents the total net income earned by the residents of a country from the production of goods and services, excluding indirect taxes and including subsidies, and after accounting for the depreciation of capital assets.

Topic Macroeconomics - National Income
Exam Relevance SSC, Railway, UPSC
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