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Question
Which formula obtains Net National Product at Factor Cost (NNPFC) from Net National Product at Market Prices (NNPMP)?
Options
\[NNPFC = NNPMP - Depreciation\]
\[NNPFC = NDPMP - Net\ Product\ Taxes - Net\ Production\ Taxes\]
\[NNPFC = NNPMP - Net\ Product\ Taxes - Net\ Production\ Taxes\]
\[NNPFC = NNPMP + NFIA\]
MCQ
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Solution
To move from NNPMP to NNPFC, Net Product Taxes and Net Production Taxes are deducted. Therefore, \[NNPFC = NNPMP - Net\ Product\ Taxes - Net\ Production\ Taxes\].
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