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National Income Accounting
Question
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Define GNPMP, NNPMP, GNPFC and NNPFC.

Answer

(i) GNPMP is defined as market value of all the final goods and services produced in the domestic economy during an accounting year plus net factor income from abroad.
(ii)    NNPMP = GNPMP - Depreciation
(iii)    GNPFC = GNPMP - Net indirect taxes
(iv)    NNPFC = GNPFC - Depreciation

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