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प्रश्न
Distinguish between Illegal income and Transfer income.
उत्तर
| Basis of difference | Illegal income | Transfer income |
| Meaning | Income earned from illegal activities | Income from transfer activities |
| Example | Income from theft or black marketing | Income from social security or gifts |
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संबंधित प्रश्न
With the increase in income, both consumption and savings increase.
Total Cost and Total Revenue.
Distinguish between Gross National Product and Net National Product.
Explain the various methods of measuring national income.
In order to avoid double counting, value added approach is used.
Unpaid services are not included in national income.
Explain various types of investment expenditure.
C = 100 + 0.4 Y is the Consumption Function of an economy where C is Consumption Expenditure and Y is National Income. Investment expenditure is 1.100. Calculate
(i) Equilibrium level of National Income.
(ii) Consumption expenditure at equilibrium level of national income.
Find national income from the following:
Autonomous consumption = Rs100
Marginal propensity to consume = 0.80
Investment = Rs 50
Which of the following affects national income? (Choose the correct alternative)
(a) Goods and Service tax
(b) Corporation tax
(c) Subsidies
(d) None of the above
Explain the impact of rise in exchange rate on national income.
Explain the precautions that should be taken while estimating national income by expenditure method.
Other things remaining unchanged, when in a country the price of foreign currency rises, national income is: (choose the correct alternative)
a. Likely to rise
b. Likely to fall
c. Likely to rise and fall both
d. Not affected
Giving reason explain how should the following be treated in the estimation of national income:
Expenditure by a firm on payment of fees to a chartered accountant
Giving reason explain how should the following be treated in the estimation of national income:
Purchase of refrigerator by a firm for own use
Calculation National Income and Personal Disposable Income:
| (Rs crores) | ||
| 1 | Rent | 100 |
| 2 | Net current transfers to rest of the world | 30 |
| 3 | Social security contributions by employers | 47 |
| 4 | Mixed income | 600 |
| 5 | Gross domestic capital formation | 140 |
| 6 | Royalty | 20 |
| 7 | Interest | 110 |
| 8 | Compensation of employees | 500 |
| 9 | Net domestic capital formation | 120 |
| 10 | Net factor income from abroad | (-)10 |
| 11 | Net indirect tax | 150 |
| 12 | Profit | 200 |
Giving reasons explain how should the following be treated in the estimation of national income:
Purchase of machinery by a factory for own use
Calculate 'National Income' and 'Net National Disposable Income' from the following
| (Rs in Arab) | ||
| 1 | Net change in stock | 50 |
| 2 | Government final consumption expenditure | 100 |
| 3 | Net current transfers to abroad | 30 |
| 4 | Gross domestic fixed capital formation | 200 |
| 5 | Private final consumption expenditure | 500 |
| 6 | Net imports | 40 |
| 7 | Depreciation | 70 |
| 8 | Net factor income to abroad | (-)10 |
| 9 | Net indirect tax | 120 |
| 10 | Net capital transfers to abroad | 25 |
Explain national income determination through the two alternative approaches. Use Diagram.
Give reasons or explain the following
The propensity to save depends upon the level of income.
Give reasons or Explain the following statements
Services of housewives are excluded from national income.
Write explanatory answer:
Explain the output method of measuring national income.
Fill in the blank using proper alternative given in the bracket:
National income is ........ concept.
State whether the following statement is True or False
Total Revenue = Total quantity x Price.
Define or explain the following concept.
Disposable income.
State whether the following statement is true or false.
Investment made by the government is autonomous investment.
Define or explain the following concept.
Induced Consumption expenditure.
Give reason or Explain the following statement :
Paid services are included in national income.
Fill in the blanks using proper alternatives given in the brackets
Personal Income - Direct Tax = ________________
Explain the circular flow of national income.
State whether the following statements are TRUE or FALSE:
Saving increases with increase in income.
State whether the following statements are TRUE or FALSE with reason.
National income is a flow concept.
Give reasons or explain the following statements:
The net national income is less than gross national income.
Answer the following question:
What is double counting of national income?
Answer the following question:
What are the features of national income?
Answer the following question:
State the precautions while using expenditure method to measure national income.
State with reason whether you agree or disagree with the following statement:
Many precautions are to be taken while estimating national income by income method.
State with reason whether you agree or disagree with the following statement:
The money value of intermediate goods is not included in the estimation of national income.
Distinguish between:
Gross national product and Gross domestic product.
Distinguish between:
Output method of measuring national income and Income method of measuring national income.
Distinguish between:
Gross National Product and Net National Product
Distinguish between:
National income at market prices and national income at factor cost
Write short note on:
Expenditure method of measuring national income.
Write short note on:
Circular flow of national income
Write short note on:
Personal disposable income
Write short note on:
Net national product at factor cost
Define or explain the following concept:
Final goods
Give reason or explain the following statement:
National income estimates are accurate in India.
Give reason or explain the following statement:
Old age pension is transfer income.
State whether the following statement is true or false.
National income is computed every year.
Match the following groups:
| Group A | Group B | ||
| 1) | Income method | a) | Personal income – direct taxes |
| 2) | Unemployment allowance | b) | Money value of goods and services |
| 3) | Disposable Income | c) | Factor cost method |
| 4) | National Income | d) | Personal income subsidy |
| 5) | NNP(MP) | e) | Transfer payment |
| f) | GNP(MP) - Depreciation | ||
| g) | Output method | ||
| h) | Transfer income | ||
Fill in the blank with appropriate alternatives given below
National income is the subject matter of _________ Economics.
Fill in the blank with appropriate alternatives given below
In India, the responsibility for the calculation of national income rests with _________.
Fill in the blank with appropriate alternatives given below
National income is __________ concept.
Fill in the blank with appropriate alternatives given below
Paper purchased by a publisher is __________.
Distinguish between the following.
Personal income and Disposable income
Identify and explain the following concept:
Shobha collected data regarding the money value of all final goods and services produced in the country for the financial year 2018-2019.
Find the odd word
Concepts of national income -
Assertion and Reasoning type question.
Assertion (A): In national income, value of only final goods and services produced in the economy are considered.
Reasoning (R): National income is always expressed in monetary terms.
Study the following table, figure, passage and answer the question given below it.
| Components of GNP for the year 2018 |
In crores |
| Consumption | 200 |
| Investment | 300 |
| Govt.Expenditure | 400 |
| Net export | - 100 |
| Net receipts | - 50 |
| Depreciation | 100 |
A. Complete the formula
GNP = C + `square` + G + (X - M) + `square` (1m)
B. Calculate Gross National Product & Net National Product from the above data. (3m)
Net National product at factor cost is also known as
Per capita income is obtained by dividing the National income by the ______.
GNP =______ + Net factor income from abroad.
NNP stands for______.
When net factor income from abroad is deducted from NNP, the net value is______.
The value of NNP at production point is called______.
The average income of the country is______.
What is the difference between NNP and NDP?
Trace the relationship between GNP and NNP.
Write a short note on per capita income.
Differentiate between personal and disposable income.
What is the solution to the problem of double counting in the estimation of national income?
Explain the meaning of non-market activities.
Real GNP is same as ______.
Consider the following statements and identify the right ones.
- Personal income refers to the income of individuals of a country.
- The income at their disposal after paying direct taxes is called disposable income.
NNPFC =
Which of the following items are excluded from GNP measurement?
The market price of all final goods of a country in a year is known as:
GNPMP =?
NNPMP =?
Which of the following is correct?
If for a country net factor income from abroad is negative then:
Total national income divided by total population is known as:
Which of the following is not a component of domestic income?
If factor cost is greater than marker price, it means that:
How should the following be treated in estimating National Income of a Country? Give valid reasons.
Expenditure on upgradation of fixed asset by a firm.
What is ‘National Income’?
