Arrange the following concepts that are used in calculation of National Income by value added method in a proper sequence:
A. Value of output
B. GDPMP
C. GVAMP
D. NDPFC
E. NNPFC
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 2
The correct sequence for the concepts used in the calculation of National Income by the value-added method is: A, C, B, D, E
A. Value of output :The total value of goods and services produced in an economy during a given period.
C. GVA at MP: Gross value of the output produced – Value of intermediate goods used
B. GDP at MP : GVA at Market Prices
D. NDP at MP : GDP at MP- Depreciation
E. NNP at FC :NDP at MP + NFIA – Net indirect taxes