alleryStart learning →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_
Keep practising National Income
Browse all National Income questions for Tamil Nadu HSC (Class 12), or explore more Economics topics.
Related questions
In social accounting, public enterprises such as Post Offices and railways are classified The Physical Quality of Life Index is described as a better indicator of:The textbook states that India's national income estimates carry a margin of error of at lAmong these aggregates, which is the largest figure?Disposable income is arrived at by taking personal income and:Factor cost is obtained from market price by:If net factor income from abroad is deducted from Net National Product, the result is:Net Domestic Product is calculated as: