National Income and Related Aggregates-Personal Income (CBSE (Central Board of Secondary Education- Board Exam) Class-12 Economics): Questions 4 - 4 of 4

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Question number: 4

» National Income and Related Aggregates » Personal Income

Essay Question▾

Describe in Detail

Calculate ‘Gross National product at market price’ and ‘ personal income’ from the following data:

Calculate Gross National product at market price and personal income

Find Gross National product at market price and personal income

-

( Rs. Crores)

Corporation tax

35

Wages and salaries

200

National debt interest

25

Operating surplus

400

Net current transfer from abroad

15

Net factor income from abroad

(-) 10

Consumption of fixed capital

20

Social security Contributions by employers

30

Net indirect tax

40

Net domestic product at factor cost accruing to the private sector

500

Current transfers from government

5

Explanation

GNP = Operating surplus + Consumption of fixed capital + Net indirect tax - Net factor income from abroad

400 + 2 +10 + 40 = 452

Personal income = Wages and salaries + National debt interest + Net domestic product at factor cost accruing to the private sector -

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