Question
Economics Question on Economic Development and Planning
GDP at factor cost may be derived from using one of the following formula. Choose the correct.
A
GDPFC=GDPMP- NFIA
B
GDPFC=GDPMP-NIT
C
GDPFC=GDPMP-NIT-Depr
D
GDPFC=GDPMP+NFIA
Answer
GDPFC=GDPMP-NIT
Explanation
Solution
The correct option is (B):GDPFC=GDPMP-NIT