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प्रश्न
How will you treat the following while estimating domestic product of a country? Give reasons for your answer:
Purchase of goods by foreign tourists
उत्तर
Purchase of goods by foreign tourists is included in the estimation of domestic income because they are exports and part of domestic income
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संबंधित प्रश्न
Calculate 'sales' from the following data:-
| S. No. | Particulars | (Rs in laths) |
| (i) | Net value added at factor cost | 560 |
| (ii) | Depreciation | 60 |
| (iii) | Change in stock | (-)30 |
| (iv) | Intermediate cost | 1000 |
| (v) | Exports | 200 |
| (vi) | Indirect taxes | 60 |
How will you treat the following while estimating domestic product of a country? Give reasons for your answer:
Gifts are given by an employer to his employees on Independence Day
Calculate the (a) Gross National Product at market price, and (b) Net National Disposable Income
| (Rs In crores) | |
| (i) Compensation of employee | 2,500 |
| (ii) Profit | 700 |
| (iii) Mixed income of self- employed | 7,500 |
| (iv) Government final consumption expenditure | 3,00 |
| (v) Rent | 400 |
| (vi) Interest | 350 |
| (vii) Net factor income from abroad | 50 |
| (viii) Net current transfer to abroad | 100 |
| (ix) Net indirect taxes | 150 |
| (x) Depreciation | 70 |
| (xi) Net export | 40 |
If the Nominal GDP is Rs. 1200 and Price Index (with base = 100) is 120, calculate Real GDP.
If the Real GDP is Rs 300 and Nominal GDP is Rs 330, calculate Price Index (base = 100).
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 |
If the Real Gross Domestic Product is Rs 250 and the Price Index (base = 100) is 120, calculate the Nominal Gross Domestic Product.
Calculate ‘net national product’ at factor cost and 'private income' from the following:
| (Rs Arab) | ||
| 1 | National debt interest | 60 |
| 2 | Wages and salaries | 600 |
| 3 | Net current transfers to abroad | 20 |
| 4 | Rent | 200 |
| 5 | Transfer payments by the government | 70 |
| 6 | Interest | 300 |
| 7 | A net domestic product at factor cost accruing to government | 140 |
| 8 | Social security contributions by employers | 100 |
| 9 | Net factor income paid to abroad | 50 |
| 10 | Profits | 300 |
Giving reason explain how should the following be treated in estimating gross domestic product at market price?
Interest paid by an individual on a car loan taken from a bank.
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 |
Define the Gross Domestic Product.
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 =?
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 |
Assertion (A): GDP is the correct measure of the improvement of welfare of the people.
Reason (R): Many activities in an economy are not evaluated in monetary terms, they are not included in GDP due to non-availability of data.
Assertion (A): GDP does not exhibit the structure of the product.
Reason (R): If the increase in GDP is mainly due to increased production of war equipment and ammunitions, then such an increase cannot improve welfare in the economy.
Identify the correctly matched items in Column A to that of Column B:
| Column A | Column B | ||
| 1 | GDP of a country | (a) | Absolute measure of welfare |
| 2 | Underestimation of GDP | (b) | Non-monetary exchanges excluded |
| 3 | Base year | (c) | Year of current market prices |
| 4 | Economic Welfare | (d) | Mental satisfaction and peace |
From the following data, calculate the value of operating surplus:
| S.No. | Items | Amount in (₹ crore) |
| (i) | Royalty | 5 |
|
(ii) |
Rent | 75 |
| (iii) | Interest | 30 |
| (iv) | Net domestic product at factor cost |
400 |
| (v) | Profit | 45 |
| (vi) | Dividends | 20 |
On the basis of the data given below for an imaginary economy, estimate the value of Net Domestic Product at factor cost (NDPFC):
| S.No. | Items | Amount (₹ in crore) |
| (i) | Household Consumption Expenditure | 2,000 |
| (ii) | Government Final Consumption Expenditure | 1,500 |
| (iii) | Gross Domestic Fixed Capital Formation | 1,000 |
| (iv) | Net additions to stock | 300 |
| (v) | Exports | 700 |
| (vi) | Net Indirect Taxes | 350 |
| (vii) | Imports | 200 |
| (viii) | Consumption of Fixed Capital | 250 |
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 |
