Per capita income of a country is obtained from- By dividing a country’s national income by its population, the per capita income (PCI) is obtained. Per capita income = National Income / Population 14. NNP at factor cost is equal to

Explanation

When Net National Product (NNP) is calculated at factor cost, it is equal to National Income (NI). NNP at factor cost is the total of factor incomes earned in a year by all factors of production of a country in the form of wages, profits, rent, and interest. It is a national product, but it is not limited only to production within national boundaries. It is the sum of net domestic factor income and net factor income received from abroad. (295) ## Page 44 ##