Identify the correct statements

A. GDP_MP is the money value of all final goods and services produced within a domestic territory of a country measured in a year.

B. GDP_MP = C + I + G + X - M, Where C is consumption expenditure, 'I' is investment expenditure, 'G' is Government expenditure, 'X' is exports and 'M' is imports.

C. GDP_MP = GDP_FC - NIT

D. GDP_MP is the income earned by the factors in the form of wages, profit, rent, interest, etc. within the domestic territory

E. GDP_MP is the market value of all final good and Services produced within the domestic territory of a country measured in a year

Choose the correct answer from the options given below:

B and E only

The correct answer is B and E.

1. Gross Domestic Product at Market Prices (GDP_MP):

a. GDP is the market value of all final goods and services produced within a domestic territory of a country measured in a year.

b.  All production done by the national residents or the non-residents in a country gets included, regardless of whether that production is owned by a local company or a foreign entity. 

c. Everything is valued at market prices.

d. GDP_MP = C + I + G + X - M

2. Gross Domestic Product at Factor Cost (GDP_FC):

a. GDP at factor cost is gross domestic product at market prices, less net product taxes.

b. Market prices are the prices as paid by the consumers Market prices also include product taxes and subsides. The term factor cost refers to the prices of products as received by the producers. Thus, factor cost is equal to market prices, minus net indirect taxes. GDP at factor cost measures money value of output produced by the firms within the domestic boundaries of a country in a year.

c. GDP_{FC =} GDP_MP - NIT

3. Net Domestic Product at Market Prices (NDP_MP)

a. This measure allows policy-makers to estimate how much the country has to spend just to maintain their current GDP. If the country is not able to replace the capital stock lost through depreciation, then GDP will fall.

b. NDP_{MP =}  GDP_MP  - depreciation

4. NDP at Factor Cost (NDP_FP)

a. NDP at factor cost is the income earned by the factors in the form of wages, profits, rent, interest, etc., within the domestic territory of a country.

b. NDP_FC = NDP_MP - Net Product Taxes - Net Production Taxes