National Income and Related Aggregates-Gross National Product (CBSE Class-12 Economics): Questions 7 - 10 of 10

Get 1 year subscription: Access detailed explanations (illustrated with images and videos) to 523 questions. Access all new questions we will add tracking exam-pattern and syllabus changes. View Sample Explanation or View Features.

Rs. 900.00 or

Question number: 7

» National Income and Related Aggregates » Gross National Product

Appeared in Year: 2006

Essay Question▾

Describe in Detail

From the following data, calculate “gross value added at factor cost”.

calculate gross value added at factor cost.

calculate gross value added at factor cost in detail.

-

( Rs. in lakhs)

Sales

180

Rent

5

Subsidies

10

Change in stock

15

Purchase of raw materials

100

Profits

25

Explanation

value added at factor cost = Sales + Change in stock - Purchase of raw materials + Subsidies

= 180 + 15 - 100 + 10

= Rs. 105 lakh

Question number: 8

» National Income and Related Aggregates » Gross National Product

Appeared in Year: 2012

Essay Question▾

Describe in Detail

Find out (A) Gross National product at market price and (B) Net current transfers from Abroad.

Gross National product at market price and Net current transfers from Abroad.

Calculate Gross National product at market price and Net current transfers from Abroad.

-

(Rs crore)

Net indirect tax

35

Private final consumption expenditure

500

Net national disposable income

750

Closing stock

10

Government final consumption expenditure

150

Net domestic fixed capital formation

100

Net factor income to abroad

(-15)

Net imports

20

Opening stock

10

Consumption of fixed capital

50

Explanation

Gross National product at market price = Private final consumption expenditure + Government final consumption expenditure + Net domestic fixed capital formation - Consumption of fixed capital - Net imports - Net factor income to abroad

= 500 + 150 + (100 – 50) -20 – (-15)

= 695rs crore… (46 more words) …

Question number: 9

» National Income and Related Aggregates » Gross National Product

Appeared in Year: 2012

Essay Question▾

Describe in Detail

Giving reason explain how should the following be treated in estimating national income:

(i) Interest paid by banks on deposits by individuals.

(ii) National debt interest.

Explanation

(I) Interest paid by bank on deposits should be included in the

Estimation of National Income because it is a factor income

For the account holders.

(iii) National debt interest should not be included in

the estimation of National Income because it is not known

Whether the government has borrowed… (3 more words) …

Question number: 10

» National Income and Related Aggregates » Gross National Product

Essay Question▾

Describe in Detail

Calculate Gross National Product at Market Price and Net National Disposable Income from the following data:

Calculate Gross National Product at Market Price and Net National Disposable Income

Calculation in detail Gross National Product at Market Price and Net National Disposable Income

-

( Rs. crores)

Current transfers from government

25

Compensation of employees

600

Net current transfers from the rest of the world

20

Rent

100

Consumption of fixed capital

50

Interest

120

Net indirect tax

110

Profit

80

Mixed income of the self-employed

200

Net factor income from abroad

(-) 10

Explanation

(national product) NDP = Rent + Internet + Profit + Compensation of employees + Mixed income of the self-employed

= 100 + 120 + 80 + 600 + 200

= Rs. 1100 crores.

(Gross National Product) GNP = NDP + Net factor income from abroad + Net indirect tax +… (112 more words) …

Sign In