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प्रश्न
Calculate Net Domestic Product at Factor Cost and Private Income:
| Rs crore | ||
| 1 | Gross National Disposable Income | 600 |
| 2 | Net current transfers to abroad | (-)20 |
| 3 | Consumption of fixed capital | 60 |
| 4 | Current transfers from government | 30 |
| 5 | Indirect tax | 100 |
| 6 | Income accruing to government | 80 |
| 7 | Subsidies | 10 |
| 8 | Net factor income to abroad | (-)10 |
| 9 | National debt interest | 40 |
| 10 | Personal tax | 150 |
उत्तर
Gross National Disposable Income = Net National Disposable Income + Consumption of fixed capital
600 = Net National Disposable Income + 60
Net National Disposable Income = Rs 540 crore
Net National Disposable Income = Net Domestic Product at Factor Cost + (Indirect tax- Subsidies) + Net factor income from abroad + Net current transfers from abroad
540 = Net Domestic Product at Factor Cost + (100-10)-(-10)-(-20)
540 = Net Domestic Product at Factor Cost + 120
Net Domestic Product at Factor Cost = Rs 420 crore
Private Income = Net Domestic Product at Factor Cost- Income accruing to government + Net factor income from abroad + Current transfers from government+ Net current transfers from abroad+ National debt interest
Private Income = 420-80-(-10)+30-(-20)+40
Private Income = Rs 440 crore
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संबंधित प्रश्न
How will you treat the following while estimating domestic product of a country? Give reasons for your answer:
Gifts are given by an employer to his employees on Independence Day
If the Nominal GDP is Rs. 1200 and Price Index (with base = 100) is 120, calculate Real GDP.
Giving reason explain how should the following be treated in estimating gross domestic product at market price?
Expenditure on purchasing a car for use by a firm.
Find out (i) Gross National Product at Market Price and (ii) Net Current Transfers from Abroad:
|
S. No. |
Items |
(Rs Crore) |
|
(i) |
Private final consumption expenditure |
1000 |
|
(ii) |
Depreciation |
100 |
|
(iii) |
Net national disposable income |
1500 |
|
(iv) |
Closing stock |
20 |
|
(v) |
Government final consumption expenditure |
300 |
|
(vi) |
Net Indirect tax |
50 |
|
(vii) |
Opening stock |
20 |
|
(viii) |
Net domestic fixed capital formation |
110 |
|
(ix) |
Net exports |
15 |
|
(x) |
Net factor income to abroad |
(–) 10 |
Answer the following question.
How can gross domestic product at factor cost be obtained from the gross national product at market price?
Match the following:
| 1 | Prime Minister | A | Seeds that give a large proportion of output |
| 2 | Gross Domestic Product | B | Quantity of goods that can be imported |
| 3 | Quota | C | Chairperson of the planning commission |
| 4 | Land Reforms | D | The money value of all the final goods and services produced within the economy 'in one year |
| 5 | HYV Seeds | E | Improvements in the field of agriculture to increase its productivity |
| 6 | Subsidy | F | The monetary assistance given by the government for production activities |
For meaningful comparison common price level base is used because ______
Identify the correctly matched items in Column A to that of Column B:
| Column A | Column B |
| 1. Welfare of the people | (a) Social Welfare |
| 2. Total of economic and non-economic welfare | (b) Economic Welfare |
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| 4. Material well being of the people | (d) Real GDP |
______ is Domestic Income.
Growth of GDP and Major Sectors (in %)
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| (1) Feature of Perfect Competition | (a) Only one buyer |
| (2) Feature of the Monopoly Market | (b) Only a few sellers |
| (3) Features of Monopolistic Competition | (c) a Large Number of Buyers and Sellers |
| (4) Features of the Monopoly Market | (d) Only a few buyers |
What does Real GDP show?
Assertion (A): GDP does not exhibit the structure of the product.
Reason (R): If the increase in GDP is mainly due to increased production of war equipment and ammunitions, then such an increase cannot improve welfare in the economy.
The difference by which actual Aggregate Demand exceeds the Aggregate Demand, required to establish full employment equilibrium is known as ______
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The Centre on Saturday increased the budgetary allocation for the environment ministry from last fiscal by nearly five percent for 2020-21 with no change in the amount allotted to pollution abatement and climate change action plan. Union Finance Minister, Nirmala Sitharaman, allocated ₹3,100 crores for the ministry out of which ₹460 crores were allotted to control pollution, which is the same as the money it received in the last budget. Control of pollution has been conceptualized to provide financial assistance to Pollution Control Boards/Committees and funding to National Clean Air Programme (NCAP). Similarly, the budget for pollution abatement, which was cut by 50 percent last year from 2018-to 19, remained unchanged at ₹10 crores. The minister also announced that states, which are formulating and implementing plans for ensuring cleaner air in cities above one million population should be encouraged.
- Budget 2020: Allocation for Environment Ministry up 5% to ₹3,100 crore - Business Standards, 1st February 2020
Real GDP and Welfare are ______ related to each other.
Distinguish between Gross Domestic Product at Market Price and Net Domestic Product at Market Price.
"Gross Domestig Product (GDP) as an indicator of welfare loses its significance if the distribution of income turns unequal." Justify the given statement with valid reason.
On the basis of the data given below for an imaginary economy, estimate the value of Net Domestic Product at factor cost (NDPFC):
| S.No. | Items | Amount (₹ in crore) |
| (i) | Household Consumption Expenditure | 2,000 |
| (ii) | Government Final Consumption Expenditure | 1,500 |
| (iii) | Gross Domestic Fixed Capital Formation | 1,000 |
| (iv) | Net additions to stock | 300 |
| (v) | Exports | 700 |
| (vi) | Net Indirect Taxes | 350 |
| (vii) | Imports | 200 |
| (viii) | Consumption of Fixed Capital | 250 |
On the basis of the data given below for an imaginary economy, estimate the Net Domestic Product at Factor Cost (NDPFC):
| S.NO. | Items | Amount (₹ in crore) |
| (i) | Household Consumption Expenditure | 3,000 |
| (ii) | Government Final Consumption Expenditure | 1,000 |
| (iii) | Net Domestic Fixed Capital Formation | 1,000 |
| (iv) | Change in Stock | 200 |
| (v) | Exports | 500 |
| (vi) | Indirect Taxes | 350 |
| (vii) | Imports | 300 |
| (viii) | Subsidies | 50 |
“While estimating Gross Domestic Product (GDP) by expenditure method, entire focus is on expenditures incurred by the residents of the country.” Do you agree with the given statement? Give valid reason in support of your answer.
