state gov TSPSC Group 2 (తెలంగాణ గ్రూప్ 2) Mock Test Series General Knowledge Economy National Income Accounting
Consider the following statements.
1. If Net Factor Income from Abroad is positive, then GNP is greater than GDP.
2. Net Domestic Product at Factor Cost is defined as the total factor incomes earned by the factors of production.
3. Net Factor Income from Abroad is the difference between the aggregate amount that a country's citizens and companies earn abroad, and the aggregate amount that foreign citizens and overseas companies earn in that country.
Which among the above statements is/are correct?
1
1 and 2 only
2
2 and 3 only
3
1, 2 and 3
4
3 only