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| 1. |
Discuss the concepts of : (i) NDP at MP , (ii) GNP at FC and (iii) GDP at MP. |
| Answer» Solution : (i) NDP at MPis otherwise called the net value added at market price WITHIN the domestic territory of a country . It is the market value of all final GOODS and services produced within the domestic territory of a country duringan accountingperiod minus depreciation .(ii)GNP at FC is defined as the value ofall goods and services at market priceproduced within the produced the domestic territory of the country in an ACCOUNTING year including net factor income from ABROAD minus net indirect taxes(III) GDP at MP.is the sum of gross values added of all resident producers at market price , plus taxes less subsidies on product | |