Question
Which of the following statements correctly
differentiates between GDP at factor cost and GDP at market prices?Solution
Explanation: GDP at factor cost represents the income earned by factors of production within domestic territory, while GDP at market prices captures value at consumer level. The bridge is Net Indirect Taxes (Indirect Taxes – Subsidies). This adjustment converts producers’ cost-based output into market-valued output, as used in international comparisons.
7 men and 4 boys can complete a work in 6 days. A man completes double the work than a boy. In how many days will 5 men and 4 boys complete the work?
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'Alex,' 'Ben,' and 'Charlie' can individually complete a task in 40, 60, and 100 days, respectively. They decide to work together, but there's a unique ...
If 12 men working 12 hours a day can make 12 quilts in 12 days, then in how many days 24 men working 24 hours per day will make 24 quilts?
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