Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Macro Economics: National Income Accounting

Question:

Which of the following would mean GNP at consumer point?

Options:

NNPMP

GNPMP

NNPFC

GNPFC

Correct Answer:

GNPMP

Explanation:

The correct answer is Option 2: GNPMP

At consumer point means at market price because consumers pay the market price, i.e., price which is inclusive of taxes. Factor cost is from producers' point of view.