Which of the following is correct?
1
GDP at factor cost = GDP at market price + income tax - Subsidies
2
Disposable income = Personal income + Personal direct taxes
3
According to the Income Method, GNP = Wages and salaries + Rent + Dividends + Undistributed corporate profits + Mixed incomes + Direct and indirect taxes - Depreciation - Net income from abroad
4
Real GDP is the NDP at constant price + Depreciation