National Income and Related Aggregates (CBSE Class-12 Economics): Questions 1 - 3 of 68

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Question number: 1

» National Income and Related Aggregates » Methods of Calculating National Income » Income Method

» National Income and Related Aggregates » Methods of Calculating National Income » Expenditure Method

Essay Question▾

Describe in Detail

From the following data calculate National Income by Income and Expenditure

methods:

data to calculate national income

it shows particulars with its amount

NO.

(Rs crores)

1

Government final consumption expenditure

100

2

Subsidies

10

3

Rent

200

4

Wages and salaries

600

5

Indirect taxes

60

6

Private final consumption expenditure

800

7

Gross domestic capital formation

120

8

Social security contributions by employers’

55

9

Royalty

25

10

Net factor income paid to abroad

30

11

Interest

20

12

Consumption of fixed capital

10

13

Profit

130

14

Net exports

70

15

Change in stock

50

Explanation

Income Method

National Income = (4) + (8) + (3 + 9) + (11) + (13) – (10)

= 600 + 55 + (200 + 25) + 20 + 130 - 30

= Rs. 1, 000 crores

Expenditure Method

National Income = 6 + 1 + 7 + 14 –… (28 more words) …

Question number: 2

» National Income and Related Aggregates » Methods of Calculating National Income » Value Added or Product Method

» National Income and Related Aggregates » Methods of Calculating National Income » Income Method

Short Answer Question▾

Write in Short

Explain any two precautions that should be taken while estimating national income by (a) value added method, and (b) income method.

Question number: 3

» National Income and Related Aggregates » Gross National Product

» National Income and Related Aggregates » National Disposable Income

Short Answer Question▾

Write in Short

Calculate Gross National Product at market price and Personal Disposable income from the following data:

information to calculate GNP and personal disposable income

related information and their amount is given for calculation

No.

Particulars

amount (in crores)

1

Subsidy

20

2

Net factor income from abroad

(-) 60

3

Consumption of fixed capital

50

4

Personal tax

110

5

Savings of private corporations

40

6

Dividend

20

7

Indirect tax

100

8

Corporation tax

90

9

Net national disposable income

1, 000

10

National debt interest

30

11

Net current transfers from abroad

20

12

Current transfers from government

50

13

Miscellaneous receipts of the government administrative departments

30

14

Private income

700

15

Private final consumption expenditure

380

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