Advertisements
Advertisements
प्रश्न
If the Real Gross Domestic Product is Rs 250 and the Price Index (base = 100) is 120, calculate the Nominal Gross Domestic Product.
उत्तर
Real GDP = `"Nominal GDP"/"Price Index of Current Year" xx 100`
`250 = "Nominal GDP"/120 xx 100`
Nominal GDP = 300
APPEARS IN
संबंधित प्रश्न
How will you treat the following while estimating domestic product of a country? Give reasons for your answer:
Profits earned by branches of country's bank in other countries
Calculate 'Net Domestic Product at Market Price' and 'Gross National Disposable Income':
| (Rs crores) | ||
| 1 | Private final consumption expenditure | 400 |
| 2 | Opening stock | 10 |
| 3 | Consumption of fixed capital | 25 |
| 4 | Imports | 15 |
| 5 | Government final consumption expenditure | 90 |
| 6 | Net current transfers to rest of the world | 5 |
| 7 | Gross domestic fixed capital formation | 80 |
| 8 | Closing stock | 20 |
| 9 | Exports | 10 |
| 10 | Net factor income to abroad | (-)5 |
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 |
Calculate value of "Interest" from the following data:
| S. No. | Particulars |
Amount (₹ in crores) |
| (i) | Indirect tax | 1,500 |
| (ii) | Subsidies | 700 |
| (iii) | Profits | 1,100 |
| (iv) | Consumption of fixed capital | 700 |
| (v) | Gross domestic product at market price | 17,500 |
| (vi) | Compensation of employees | 9,300 |
| (vii) | Interest | ? |
| (viii) | Mixed income of self-employed | 3,500 |
| (ix) | Rent | 800 |
Given the following data, find the values of "Gross Domestic Capital Formation" and "Operating Surplus".
| S. No. | Particulars |
Amount (₹ in crores) |
| (i) | National Income | 22,100 |
| (ii) | Wages and Salaries | 12,000 |
| (iii) | Private Final Consumption Expenditure | 7,200 |
| (iv) | Net Indirect Taxes | 700 |
| (v) | Gross Domestic Capital Formation | ? |
| (vi) | Depreciation | 500 |
| (vii) | Government Final Consumption Expenditure | 6,100 |
| (viii) | Mixed Income of Self-Employed | 4,800 |
| (ix) | Operating Surplus | ? |
| (x) | Net Exports | 3,400 |
| (xi) | Rent | 1,200 |
| (xii) | (-) | |
| Net Factor Income From Abroad | 150 |
NDPFC = ____________.
Profits earned by a branch of a foreign bank in India are ______ in the domestic product of India.
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 |
| 3. Benefits or harms of an activity caused by a firm. | (c) Externalities |
| 4. Material well being of the people | (d) Real GDP |
Identify the correctly matched pair from Column A to that of Column B:
| Column A | Column B |
| 1. Inflationary Gap | (a) Selling of government securities |
| 2. Deflationary Gap | (2) Increase in Statutory Liquidity Ratio |
| 3. Effects of Deficient Demand | (c) Rise in production level |
| 4. Plans to Expand Exports | (d) AD > AS (at full Exports employment level) |
______ is the difference between gross and net.
Growth of GDP and Major Sectors (in %)
| Column I | Column II |
| (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?
GDP is not an appropriate indicator of welfare because of:
Which of the following statements is incorrect?
Assertion: With every increase in the level of GDP, social welfare definitely increases in the economy.
Reason (R): GDP is not a true indicator of the welfare of the economy.
Read the below case and answer the question that follows:
|
The country's real gross domestic product (GDP) is likely to expand by 11 percent in the next financial year due to a faster economic recovery and on a low base, says a report. The report by domestic rating agency Brickwork Ratings said economic activities are slowly reaching PRE-COVID levels following the relaxation of the lockdown, except in sectors that remain affected by social distancing norms. "With progress in developing an effective vaccine for COVID-19 and signals of faster-than-expected recovery in the domestic economy, and also supported by a low base, we expect the real GDP to grow at 11 percent in F/Y 22, from the estimated contraction of 7 percent to 7.5 percent in F/Y 21," the agency said. According to the first advance estimates of national income released by the National Statistical Office (NSO), the country's GDP is estimated to contract by a record 7.7 percent during the current financial year. |
Real GDP is when the goods and services are produced by all producing units in the domestic territory of a country during an accounting year and valued at ______ prices or constant prices.
From the following data, calculate the value of operating surplus:
| S.No. | Items | Amount in (₹ crore) |
| (i) | Royalty | 10 |
|
(ii) |
Rent | 70 |
| (iii) | Interest | 25 |
| (iv) | Net domestic product at factor cost |
500 |
| (v) | Profit | 50 |
| (vi) | Dividends | 20 |
From the following, calculate the value of net domestic product at factor cost:
| S.No. | Items | Amount in (₹ crore) |
| (i) | Royalty | 5 |
|
(ii) |
Rent | 75 |
| (iii) | Interest | 30 |
| (iv) | Compensation of Employees |
600 |
| (v) | Profit | 45 |
| (vi) | Dividends | 20 |
| (vii) | Mixed Income of self employed |
100 |
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 |
