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      Question

      Which of the following is called as the National

      Income?
      A Gross National Product at Factor Cost Correct Answer Incorrect Answer
      B Gross National Product at Market Price Correct Answer Incorrect Answer
      C Net National Product at Factor Cost Correct Answer Incorrect Answer
      D Net National Product at Market Price Correct Answer Incorrect Answer

      Solution

      National Income is Net National Product at factor cost. NNP at factor cost = National Income (NI ) = NNP at market prices - (Indirect taxes - Subsidies).

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