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XLRI GK - 1
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Directions: Select the correct alternative from the given choices.
The term National Income represents
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A
Gross National Product at market prices minus depreciation and indirect taxes plus subsidies.
💡 Explanation:
National Income equals GNP at market prices minus depreciation, then adjusted for indirect taxes (subtract) and subsidies (add). This represents the net value of goods and services produced. Option B incorrectly subtracts net factor income from abroad (that's for NNP), and Option D adds factor income instead of adjusting for taxes/subsidies.