Domestic product at "Market Price' includes impact of subsidies and indirect taxes whereas 'Domestic…
By national income accounting identity, \(\text{Domestic Product at Market Price} = \text{Domestic Product at Factor Cost} + \text{Indirect Taxes} - \text{Subsidies}\);…
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Domestic product at "Market Price' includes impact of subsidies and indirect taxes whereas 'Domestic product at factor cost' is free from the impact of subsidies and indirect taxes." This statement is -
Answer and explanation
Correct answer B
By national income accounting identity, ; hence this statement is always true.
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RPSC School Lecturer (School Education)