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प्रश्न
Explain non-monetary exchanges as a limitation of using the gross domestic product as an index of the welfare of a country
उत्तर
Non-monetary exchanges are not considered for the estimation of domestic income. These transactions such as domestic services rendered by a housewife, kitchen gardening and a parent teaching her child. It is difficult to ascertain their market value and not rendered for the purpose of earning income. Though these services are rendered for development of a child and welfare of the family, it is not included in the gross national product. Thus, 'non-monetary exchanges' as a limitation of using a gross domestic product as an index of the welfare of a country.
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संबंधित प्रश्न
Explain the steps involved in calculating the National income by Income method.
From the following data, calculate Personal Income and Personal Disposable Income.
| Rs (crore) | ||
| (a) | Net Domestic Product at factor cost | 8,000 |
| (b) | Net Factor Income from abroad | 200 |
| (c) | Undisbursed Profit | 1,000 |
| (d) | Corporate Tax | 500 |
| (e) | Interest Received by Households | 1,500 |
| (f) | Interest Paid by Households | 1,200 |
| (g) | Transfer Income | 300 |
| (h) | Personal Tax | 500 |
With a rise in real national income, welfare of the people ______
What is equilibrium income?
In an economy, C = 300 + 0.5Y and I = ? 600/- (where C =consumption, Y =income or investment). Compute the equilibrium level of income
In an economy, C = 300 + 0.5Y and I = ?. 600/- (where C = consumption, Y = income or investment). Computer the Consumption expenditure at equilibrium level of income
We suppose that C = 70 + 0.70Y D, I = 90, G = 100, T = 0.10Y (1) Find the equilibrium income
Suppose C = 40 + 0.8Y D. T = 50, I = 60, G = 40, X = 90, M = 50 + 0.05Y. Find equilibrium income
Suppose C = 40 + 0.8Y D. T = 50, I = 60, G = 40, X = 90, M = 50 + 0.05Y. Find the net export balance at equilibrium income
Suppose C = 40 + 0.8Y D. T = 50, I = 60, G = 40, X = 90, M = 50 + 0.05Y. What happens to equilibrium income and the net export balance when the government purchases increase from 40 to 50?
In the above question 15, if exports change to X = 100, find the change in equilibrium income
Suppose C = 100 + 0.75Y D, I= 500, G = 750, taxes are 20 per cent of income, X = 150, M = 100 + 0.2Y. Calculate equilibrium income.
What is the other name for Income Method?
Distinguish between Factor Cost and Market Price.
Find the odd word out:
Transfer payments:
Calculate National Income using Income method and Output method.
| PARTICULARS | (₹ crores) | |
| (i) | Value of output | 1200 |
| (ii) | Wages and salaries | 165 |
| (iii) | Rent | 60 |
| (iv) | Subsidies | 15 |
| (v) | Mixed Income of self employed | 180 |
| (vi) | Employer's contribution to social security | 15 |
| (vii) | Value of intermediate consumption | 600 |
| (viii) | Interest | 7 |
| (ix) | Factor income earned from abroad | 15 |
| (x) | Indirect taxes | 90 |
| (xi) | Profits | 23 |
| (xii) | Depreciation | 75 |
| (xiii) | Factor income paid abroad | 30 |
