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प्रश्न
With the help of a reason, explain why the following are included in calculation of National Income.
Own account production
उत्तर
Because it constitutes a portion of the current production of the economy.
APPEARS IN
संबंधित प्रश्न
Answer the following question.
What precautions should be taken while estimating national income by value-added method? Explain.
Define the following: Value Addition
How is microeconomics different from macroeconomics?
National income is equal to ______.
To include the value of goods or services more than one time while calculating National Income is called:
Distinguish between ‘Value of Output’ and ‘Value Added’.
Which of the following will be excluded when one calculating National Income through the Value Added Method?
What concept are all domestic variants?
When calculating the national Income which of the following will not be considered?
Statement 1: AP can take positive values only.
Statement 2: TP can take negative values only.
Complete the table:
| Producer | Value of output | Intermediate Consumption |
Value Added |
| Farmer | 2,000 | - | 2,000 |
| Banker | __(i)__ | 2,000 | 2,000 |
| Retail Seller | 4,400 | (iii) | 400 |
| Total | __(ii)__ | 6,000 | __(iv)__ |
Briefly discuss any two precautions to be taken while calculating national income by the Value Added method.
Calculate National Income and operating Surplus from the following data:
| PARTICULARS | (₹crores) | |
| (i) | Government final consumption expenditure | 900 |
| (ii) | Net factor income from abroad | 210 |
| (iii) | Private final consumption expenditure | 1000 |
| (iv) | Net domestic capital formation | 300 |
| (v) | Profits | 320 |
| (vi) | Rent | 190 |
| (vii) | Net exports | (-) 75 |
| (viii) | Interest | 200 |
| (ix) | Net indirect taxes | 265 |
