_____ at Market Price refers to the sum total of factor incomes earned by residents of a country during an accounting year including net indirect taxes.
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. Net National Product (NNP).
Net National Product (NNP) at Market Price refers to the sum total of factor incomes earned by residents of a country during an accounting year, including net indirect taxes (taxes minus subsidies), after accounting for depreciation. NNP is derived from Gross National Product (GNP) by subtracting depreciation (the loss in value of capital goods). NNP at Market Price reflects the total value of goods and services produced by a country's residents, including the value of net income from abroad, and adjusted for capital consumption.