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प्रश्न
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.
पर्याय
(A) is True but (R) is False.
(A) is False but (R) is True.
Both (A) and (R) are True and (R) is the correct explanation of (A).
Both (A) and (R) are True and (R) is not the correct explanation of (A).
उत्तर
Both (A) and (R) are True and (R) is not the correct explanation of (A).
APPEARS IN
संबंधित प्रश्न
Total Cost and Total Revenue.
Explain the various methods of measuring national income.
Explain in detail ‘saving function’ with schedule and diagram.
Find national income and private income:
(Rs crore)
(i) Wages and salaries 1,000
(ii) Net current transfer to abroad 20
(iii) Net factor income paid to abroad 10
(iv) Profit 400
(v) National debt interest 120
(vi) Social security contributions by employers 100
(vii) Current transfers from government 60
(viii) National income accruing to government 150
(ix) Rent 200
(x) Interest 300
(xi) Royalty 50
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.
Calculate National Income from the following data:
| S.No. | Particulars | Rs.in crores |
| (i) | Private final consumption expenditure | 900 |
| (ii) | Profit | 100 |
| (iii) | Government final consumption expenditure | 400 |
| (iv) | Net indirect taxes | 100 |
| (v) | Gross domestic capital formation | 250 |
| (vi) | Change in stock | 50 |
| (vii) | Net factor income from abroad | (-)40 |
| (viii) | Consumption of fixed capital | 20 |
| (ix) | Net imports | 30 |
Giving reason explain how should the following be treated in estimating national income:
i. Expenditure on fertilizers by a farmer.
ii. Purchase of tractor by a farmer.
National income is the sum of factor incomes accruing to : (Choose the correct alternative)
(a) Nationals
(b) Economic territory
(c) Residents
(d) Both residents and non-residents
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.
Calculate the (a) Net National product as markets price. and (b) Gross National Disposable Income:
| (Rs In crores) | |
| (i) Mixed income of self – employed | 8,000 |
| (ii) Rent | 400 |
| (iii) Profit | 900 |
| (iv) Dividend | 100 |
| (v) Interest | 500 |
| (vi) Mixed income of self- employed | 7,000 |
| (vii) Net factor income to abroad | 50 |
| (viii) Net export | 60 |
| (ix) Net indirect taxes | 300 |
| (x) Depreciation | 150 |
A government of India has recently launched 'Jan-Dhan Yojana' aimed at every household in the country to have at least one bank account. Explain how deposits made under the plan are going to affect the national income of the country.
Giving reason explain how the following should be treated in the estimation of national income:
Payment of interest by a bank to an individual
Calculate the 'National Income' and 'Private Income' :
| (Rs in crores) | ||
| 1 | Rent | 200 |
| 2 | Net factor income to abroad | 10 |
| 3 | National debt interest | 15 |
| 4 | Wages and salaries | 700 |
| 5 | Current transfers from government | 10 |
| 6 | Undistributed profit | 20 |
| 7 | Corporation tax | 30 |
| 8 | Interest | 150 |
| 9 | Social security contributions by employers | 100 |
| 10 | Net domestic product accruing to government | 250 |
| 11 | Net current transfers to rest of the world | 5 |
| 12 | Dividends | 50 |
Calculate 'Net National Product at Market Price' and 'Personal Income'.
| (Rs crore) | ||
| (i) | Transfer payments by government | 7 |
| (ii) | Government final consumption expenditure | 50 |
| (iii) | Net imports | -10 |
| (iv) | Net domestic fixed capital formation | 60 |
| (v) | Private final consumption expenditure | 300 |
| (vi) | Private income | 280 |
| (vii) | Net factor income to abroad | -5 |
| (viii) | Closing stock | 8 |
| (ix) | Opening stock | 8 |
| (x) | Depreciation | 12 |
| (xi) | Corporate tax | 60 |
| Xii | Retained earnings of corporatio | 20 |
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 investment expenditure from the following data about an economy which is in equilibrium:
National income = 1500
Autonomous consumption expenditure = 300
Investment expenditure = 300
Calculate national income and gross national disposable income from the following:
| (Rs Arab) | ||
| 1 | Net current transfers to abroad | 5 |
| 2 | Government final consumption expenditure | 100 |
| 3 | Net indirect tax | 80 |
| 4 | Private final consumption expenditure | 300 |
| 5 | Consumption of fixed capital | 20 |
| 6 | Gross domestic fixed capital formation | 50 |
| 7 | Net imports | (-)10 |
| 8 | Closing stock | 25 |
| 9 | Opening stock | 25 |
| 10 | Net factor income to abroad | 10 |
How should the following be treated in estimating the national income of a country? You must give a reason for your answer.
Taking care of aged parents
How should the following be treated in estimating the national income of a country? You must give the reason for your answer
Expenditure on providing police services by the government
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 |
Calculate 'Marginal Propensity to Consume' from the following data about an economy which is in equilibrium:
National income = 800
Autonomous consumption expenditure = 100
Investment expenditure = 100
Explain national income determination through the two alternative approaches. Use Diagram.
How should the following be treated while estimating national income? You must give the reason in support of your answer.
Bonus paid to employees
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.
In an economy, S = −100 + 0.6 Y is the saving function, where S is Saving and Y is National Income. If investment expenditure is 1,100, calculate:
(1) Equilibrium level of National Income
(2) Consumption expenditure at equilibrium level of National Income.
Write explanatory answer:
Explain the output method of measuring national income.
State whether the following statement is True or False
Total Revenue = Total quantity x Price.
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 = ________________
(b) decreases
(c) becomes equal
(d) becomes zero
Explain the circular flow of national income.
Define of Explain the following concept.
Net earnings from foreign trade
Write explanatory notes.
Output method of measurement of national income.
State whether the following statements are True or False with reason:
Ten years period is considered for measuring National Income.
Answer the following question:
Explain the concept of Gross domestic product at market prices.
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.
Distinguish between:
Output method of measuring national income and Income method of measuring national income.
Distinguish between:
National income at market prices and national income at factor cost
Write short note on:
Value added approach
Write short note on:
Expenditure method of measuring national income.
Write short note on:
Personal disposable income
Define or explain the following concept:
Final goods
Define or explain the following concept:
Personal income
Give reason or explain the following statement:
National income at factor cost includes subsidy.
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.
Give reason or explain the following statement:
Paid services are included in national income.
State whether the following statement is true or false.
Inclusion of value of intermediate goods leads to double counting.
State whether the following statement is true or false.
GDP includes net income from abroad.
State whether the following statement is true or false.
Financial year in India is leap 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
GDP (FC) = GDP (MP) – __________
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
Find the odd word
Concepts of national income -
Complete the following statement.
NNP is obtained by ______.
PASSAGE
Corona has slowed down the economy Lockdown imposed to contain the spread of Corona virus had resulted in closure of manufacturing and business activities. During this financial year, the economy is expected to move towards a contractionary phase rather than expansionary phase. This has been stated in the budget. This is the first paperless budget in the history of India. At the same time, it is the third post-independence budget to be presented at a time when the economy is shrinking. The budget shows a fiscal deficit of more than 5%.
The Union Finance Minister has presented a budget that seeks to accelerate the economy by balancing the impact of Corona on the economy on one hand and growing expectations of all sectors on the other. A significant increase in the allocation for Healthcare by 137% is a feature of this budget. In this budget, the expected revenue for the year 212-2022 is Rs. 34,35, 000crore and the expected expenditure is Rs. 35,83, 000 crore.
Attempts have been made to boost infrastructure, education, agricultural production, employment generation and industry, but the Income tax status quo has remained the same. The budget provides Rs.16.5 lakh crore for agricultural credit, Rs. 223,000 crore for health facilities, Rs. 3 lakh crore for Power Distribution Scheme, Rs. 15,700 crore for Small and Medium Enterprises and Rs. 20,000 crore for Government Bank Capital.
- What is the percentage increase in the provision for Healthcare? (1 mark)
- Mention the sectors that have been promoted in this budget. (1 mark)
- Express your personal opinion based on the above information regarding the budget ( 2 marks)
Net National product at factor cost is also known as
Which is the largest figure?
GNP =______ + Net factor income from abroad.
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______.
Define GDP deflator.
What is the solution to the problem of double counting in the estimation of national income?
Explain the meaning of non-market activities.
Nominal 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.
GNP at MP = ____________.
Accounting of National Income at constant prices is known as ____________.
GNPMP =?
Net National Income at Factor Cost is called?
If economic subsidies are added to and Indirect taxes are substracted from the national income at market prices, then it will be equal to ______.
If for a country net factor income from abroad is negative then:
Which of the following is not a component of domestic 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 2019-20.
Give economic term:
The volume of commodities and services turned out during a given period counted without duplication.
Explain the meaning of national income.
