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Net National Product at factor cost is also known as:
ADomestic income
BPer capita income
CNational income
DPersonal income
Answer & Solution
Correct answer: C. National income
1. Net National Product at market price measures the market value of output.
2. NNP at factor cost is instead the total of income payments made to the factors of production.
3. It is obtained by deducting indirect taxes from NNP at market price and adding subsidies.
4. The textbook states that this figure, NNP at factor cost, is what is known as national income.
_Source: TN HSC Class 12 Economics (Samacheer Kalvi, Govt of Tamil Nadu), Ch 2 "National Income", §2.4.4_
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