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Solution. (i) GDP (at MP) : Gross Domestic Product at market price. It refers to the market value of final goods aand servicess produced within the domestic territory of a country during the period of an accounting year, inclusiive of depreciation. (ii) NDP (at FC): Net Domestic Product at factor cost. It refers to the sum total of factor
GNP/GDP (Macroeconomics) In 1929 following the stock market bottoming out, Simon Kuznets led an investigative study resulting in the first national data collection of Gross National Product (GNP). Able to assess the overall production to consumption ratio of the U.S., Franklin Roosevelt entered World War II without jeopardizing the basic needs
NNP at MP = GNP at MP – D Summary of Concepts of National Income at Market Price Different concepts of national income like GDP, NDP, GNP, and NNP are if measured at a current market price of final goods and services (consumer goods and services, capital goods, and government-produced goods and services) then it is recognized as the account
National income is calculated for a particular period, normally a financial year (In India, financial year means April 1 to March 31 of next year). Net factor income from abroad is added to the domestic product to get the value of National Income. National Income = C + I + G + (X – M)
In this video, it is well explained about GDP (Groos Domestic Product), GNP (Gross National Product), NDP (Net National Product) and NNP (Net National Produc
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what is ndp and nnp
