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प्रश्न
If Real GDP is Rs 200 and Price Index (with base = 100) is 110, calculate Nominal GDP
उत्तर
Real GDP = `"Nominal GDP"/"Price Index of Current Yea" xx 100`
`200 = "Nominal GDP"/110 xx 100`
Nominal GDP = `200/100 xx 110 = 220`
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संबंधित प्रश्न
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.
Write down the three identities of calculating the GDP of a country by the three methods. Also briefly explain why each of these should give us the same value of GDP.
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 =?
Which of the following economic reforms in India leads to social justice and welfare?
Which of the following features are related with Real Gross Domestic Product?
Suppose the GDP at a market price of a country in a particular year was Rs 1,100 crores. Net: factor Income from Abroad was Rs 100 crores. The value 1. 2. 3. 4. 5. of Indirect taxes − Subsidies was Rs 150 crores and National Income was Rs 850 crores. Calculate the aggregate value of depreciation.
______ is Domestic Income.
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-
The use of public parks increases welfare
-
The distribution of GDP increases welfare
-
Higher GDP always causes higher welfare
Which of the above statements are false?
______ is shown by Nominal GDP.
Real GDP is considered as an index of:
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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. |
Read the following statements Assertion (A) and Reason (R).
Choose one of the correct alternatives given below:
Assertion (A): The country's real gross domestic product is likely to expand.
Reason (R): Some sectors remain affected by social distancing norms.
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. |
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Assertion (A): Real GDP is the true indicator of the growth of the economy.
Reason (R): Real GDP is nominal GDP adjusted for inflation used to measure the actual growth of production.
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 |
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Statement 1: Gross Domestic Product (GDP) is the sum total of the gross market value of all the final goods and services added by all the sectors in the economy during a fiscal year.
Statement 2: Gross Value Added at Market Price (GVAMP) is equal to the excess of value of output over intermediate consumption.
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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 |
