Net National Product at market price minus Net National Product at factor cost equals:
Net indirect taxes equal net national product at market prices minus net national product at factor cost. Market prices include indirect taxes and reflect subsidies, so the…
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Net National Product at market price minus Net National Product at factor cost equals:
Answer and explanation
Correct answer C
Net indirect taxes equal net national product at market prices minus net national product at factor cost. Market prices include indirect taxes and reflect subsidies, so the difference is indirect taxes less subsidies.
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Kerala SET (LBS Centre)