National Income and Related Aggregates-Gross and Net Domestic Product (CBSE Class-12 Economics): Questions 5 - 7 of 7

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Question number: 5

» National Income and Related Aggregates » Gross and Net Domestic Product

Essay Question▾

Describe in Detail

Calculate ‘Gross value added at factor cost’ from the following data:

Calculate Gross value added at factor cost

In this sum Calculate Gross value added at factor cost

-

( Rs. Lakhs)

Sales tax

20

Sales

400

Purchase of raw material

250

Excise duty

30

Change in stocks

(-40)

Import of raw material

12

Depreciation

9

Explanation

Gross value added at factor cost = Sales + Change in stocks - Purchase of raw material - Sales tax + Excise duty

= 400 + (-40) – 250 – (20 + 30)

=60

Question number: 6

» National Income and Related Aggregates » Gross and Net Domestic Product

Essay Question▾

Describe in Detail

Calculate “gross national product at factor cost” from the following data by (I) income method and (ii) Expenditure method:

Calculate gross national product at factor cost

Find gross national product at factor cost by (I) income method and (ii) Expenditure method:

-

( Rs. In crores)

Private final consumption expenditure

1000

Net domestic capital formation

200

Profits

400

Compensation of employees

800

Rent

250

Government final consumption expenditure

500

Consumption of fixed capital

60

Interest

150

Net current transfer from rest of the world

(-) 80

Net factor income from abroad

(-) 10

Net exports

(-) 20

Net indirect taxes

80

Explanation

(i) income method: -

Gross national product at factor cost = Profits + Compensation of employees + Rent + Interest + Net factor income from abroad

= 400 + 800 + 250 + 150 + 60 + (-10)

= Rs. 1650 crore

(ii) Expenditure method: -

gross national product at… (52 more words) …

Question number: 7

» National Income and Related Aggregates » Gross and Net Domestic Product

Essay Question▾

Describe in Detail

Calculate Net value Added at factor cost from the following data:

Calculate Net value Added at factor cost

Find Net value Added at factor cost

-

( Rs. Lakhs)

Depreciation

20

Intermediate cost

90

Subsidy

5

Sales

140

Exports

7

Change in stock

(-) 10

Imports of raw materials

3

Explanation

Net value Added at factor cost = Sales + Change in stock - Depreciation + Subsidy- Intermediate cost

= 140+(10)20+590

= 1401020+590

= Rs. 25 Lakhs

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