Concept of National Income and Social Accounting-Measurement of National Income (IEcoS (Economic Services) Economics Paper-2): Questions 1 - 4 of 4

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Question number: 1

» Concept of National Income and Social Accounting » Measurement of National Income

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Appeared in Year: 2011

Essay Question▾

Describe in Detail

How does NDP at factor cost differ from GNP at market prices?

Explanation

In order to differentiate between NDP at factor cost and GNP at market prices, we can make use of the formula; we will use GDP at market prices as a base for both.

Indirect taxes

This will provide us with GDP at factor cost, then

– Depreciation

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Question number: 2

» Concept of National Income and Social Accounting » Measurement of National Income

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Appeared in Year: 2016

Essay Question▾

Describe in Detail

Explain the value added method of national income accounting.

Explanation

In this method, instead of taking market value of final product, the value added at different stages of production is counted for estimating national income.

  • Thus, according to this method, national income is the sum total of value added by different producing units of a country in their production process.

  • Value added means the addition t

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Question number: 3

» Concept of National Income and Social Accounting » Measurement of National Income

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Appeared in Year: 2015

Essay Question▾

Describe in Detail

Why the ‘Gross Domestic Product’ is sometimes referred to as a ‘Grossly Deceptive Product’?

Explanation

  • Gross Domestic Product (GDP) is defined as a measure of the total flow of goods and services produced by the economy over a specified period usually a year.
  • The following reason contributes to GDP becoming Grossly Deceptive Product:
  • Black money generation: Black money is not generated from the economic phenomenon only, but it has political,

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Question number: 4

» Concept of National Income and Social Accounting » Measurement of National Income

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Appeared in Year: 2010

Essay Question▾

Describe in Detail

Explain the meaning of National Product at market prices and National product at factor cost.

Explanation

Net National Product (NNP) is the monetary value of finished goods and services produced by a country’s citizens, overseas and domestically, in a given period.

  • Net factor Income from abroad - Depreciation

  • Net factor Income from abroad – Depreciation –

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