The national income is the

  • A Gross Domestic Product at market prices
  • B Gross National product at factor cost
  • C Net National Product at factor cost
  • D Net National Product at market prices

The correct answer is B. Gross National product at factor cost

The gross national income (GNI), previously known as gross national product (GNP), is the total domestic and foreign output claimed by residents of a country, consisting of gross domestic product (GDP), plus factor incomes earned by foreign residents, minus income earned in the domestic economy by nonresidents

Previous question Next question