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Answer»
ANSWER :(1) GDP at MP(gross domestic product at market price ) is the sum of the gross value added of the gross values added of all resident producers at market price, plus taxes less SUBSIDIES onproduct(2)NDPat FC(Net domestic product at factor cost) is the INCOME earned by the FACTORS in the form of wages , PROFIT, rent , interest etc. within the domestic territory of a country.(3) NNP at MP ( Net national income at market price ) is the market value of the output of final goods and services produced by normal residents of an economy in its domesticterritory an accounting year exclusiveof depreciationand inclusive of net factor income from abroad.Solution :(1) GDP at MP(gross domestic product at market price ) is the sum of the gross value added of the gross values added of all resident producers at market price, plus taxes less subsidies onproduct(2)NDPat FC(Net domestic product at factor cost) is the income earned by the factors in the form of wages , profit, rent , interest etc. within the domestic territory of a country.(3) NNP at MP ( Net national income at market price ) is the market value of the output of final goods and services produced by normal residents of an economy in its domesticterritory an accounting year exclusiveof depreciationand inclusive of net factor income from abroad.
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