Which of the following are limitations of using GDP as a sole indicator of welfare?

A. Public park used for recreation activities.

B. It does not account for income equality.

C. It does not evaluate the value of unpaid household work.

D. It can be increased due to activities which may be harmful to the environment.

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Match List-I with List-II

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Which of the following correctly defines Gross National Product at Market Prices (GNPMP)?

Match List I with List II

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Match List-I with List-II

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Arrange the following operations in a sequential manner in order to calculate $NNP_{FC}$ from $GDP_{MP}$

A. $GDP_{MP}$ - Net Indirect Taxes

B. $NDP_{FC}$ + Net Factor Income From Abroad

C. $GDP_{FC}$ - Depreciation

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Which statements are true in terms of basic national income aggregates:

(A) GNP at factor cost measures the value of output received by the factors of production belonging to a country in a year.

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

(C) 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.

(D) GDP at factor cost is gross domestic product at market prices, less net product taxes.

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