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Multiple Choice Questions

To adjust GDP from market prices to factor cost ........

Economics National Income Accounting

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To adjust GDP from market prices to factor cost:

Add indirect taxes

Subtract subsidies

Deduct indirect taxes and deduct subsidies

Deduct indirect taxes and add subsidies

Adding indirect taxes and add subsidies

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Explanation:

GDP at 'factor cost' and GDP at' market price' differs bcz value of goods n services varies in above cases. When factor cost is considered to calculate GDP then it is GDP at factor cost. Market cost derivd after adding indirect taxes to the factor cost of production . it means d cost at which d goods entered in market