CBSE (Central Board of Secondary Education) Class-12 Economics: Questions 389 - 392 of 522
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Question 389
Describe in Detail Subjective▾
From the following data, calculate “national income” by (a) income method and (b) expenditure method:
calculate national income calculate national income by (a) income method and (b) expenditure method:
- | (₹ in crores) |
Interest | 150 |
Rent | 250 |
Government final consumption expenditure | 600 |
Private final consumption expenditure | 1200 |
Profits | 640 |
Compensation of employees | 1000 |
Net factor income to abroad | 30 |
Net indirect taxes | 60 |
Net exports | (-) 40 |
Consumption of fixed capital | 50 |
Net domestic capital formation | 340 |
Explanation
(a) Income method
National income = Interest + Rent + Profits + Compensation of employees - Net factor income to abroad
= 150 + 250 + 640 + 1000 – 30
= Rs 2010 Crore
(b) Expenditure method:
National income = Government final consumption expenditure + Private final consumption expenditure + Net exports + Net domestic capital formation + Consumption of fi…
… (17 more words) …
Question 390
Describe in Detail Subjective▾
The ratio of elasticity of supply of commodities A and B is 1: 1.5. 20 percent fall in price of a results in a 40 percent fall in its supply. Calculate the percentage increase in supply of B if its price rises from ₹ 10 per unit to ₹ 11 per unit.
EditExplanation
Percentage change in price of commodity A = 20 per cent
Percentage change in supply of commodity A = 40 per cent
Thus, price elasticity of supply of commodity A is =
… (87 more words) …
Question 391
Statement True-False▾
The difference between average total cost and average variable cost is constant.
Choices
Choice (4) | Response | |
---|---|---|
a. | False | |
b. | True | |
c. | None of the above | |
d. | All of the above |
Question 392
Describe in Detail Subjective▾
In an economy S =-50 + 0.5 Y is the saving function (Where S = saving and Y = national income) and investment expenditure is 7000. Calculate:
(i) Equilibrium level of national income
(ii) Consumption expenditure at equilibrium level of national income.
EditExplanation
(I) Equilibrium level of national income
I = S
Y =
… (19 more equations) …