alleryThe value of national income measured at the prices actually received by factors of production is the:
Anominal GDP
Bincome at market price
Cgross investment
Dnational income at factor cost
Answer & Solution
Correct answer: D. national income at factor cost
Factor-cost income is measured at the prices factors actually receive.
Keep practising Macroeconomics: Income, Budget & Banking
Browse all Macroeconomics: Income, Budget & Banking questions for AP Intermediate 2nd Year, or explore more Economics topics.
Related questions
Gross National Product (GNP) equals GDP plus:True or false about moneyMatch the national income termExpenditure that neither creates assets nor reduces liabilities of the government is:Spot the odd one outA tax whose burden can be shifted to another person, like the Goods and Services Tax, is aThe excess of revenue expenditure over revenue receipts is the:The redistribution function of the budget mainly aims at: