The following points highlight the four important concepts of national income. The concepts are: 1. GDP and GNP 2. GDP at Market Price and GDP at Factor Cost 3. NNP 4. Personal Income. National Income: Concept # 1. GDP and GNP: GDP measures the aggregate money value of output produced by the economy over a year. In other words, GDP is obtained by valuing all final goods and services produced
To join GetintoIAS Telegram Group: https://t.me/getintoiasofficialRelated Indian Economy Books for Prelims- Indian Economy Key Concepts by Sankar Ganesh : ht Berdasarkan penjelasan diatas, berikut rumus dari masing – masing ialah : GNP = GDP + Pendapatan neto terhadap luar negeri. GDP = Pendapatan WNI di dalam negeri + Pendapatan WNA di dalam negeri. NNP = GNP – (penyusutan + barang pengganti modal) NNI = NNP – pajak tidak langsung + subsidi. DI = PI – Pajak penghasilan.