Which of the following statement is incorrect?

CBSE 2020 Class 12 Economics Delhi Set 2

Question : 2 of 13

Marks: +1, -0

Gross Domestic Product (GDP) at Market price = GDP at factor cost plus Net Indirect taxes.
Net National product (NNP) at Market price = NNP at factor cost .
Gross National Product (GNP) at Market price = GDP at Market price Plus Net factor income from abroad.
Net National Product (NNP) at factor cost = National Income.

Solution:

Net National product (NNP) at Market price = NNP at factor cost .

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