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प्रश्न
What is GNP at factor cost?
दीर्घउत्तर
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उत्तर
GNP at factor cost refers to the total income earned by the normal residents of a country (both within the country and abroad) from the production of final goods and services in a year, measured at factor cost.
GNP at FC = GDP at MP + net factor income from abroad − net indirect taxes
- It includes all factor incomes: wages, rent, interest, and profits.
- It covers production by nationals, whether it takes place inside or outside the country.
- It is measured at factor cost, so it excludes indirect taxes and includes subsidies.
- It is a gross measure, meaning depreciation is not deducted.
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