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प्रश्न
If the Real Gross Domestic Product is Rs 250 and the Price Index (base = 100) is 120, calculate the Nominal Gross Domestic Product.
उत्तर
Real GDP = `"Nominal GDP"/"Price Index of Current Year" xx 100`
`250 = "Nominal GDP"/120 xx 100`
Nominal GDP = 300
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संबंधित प्रश्न
Calculate (a) net national product at the market price and (b) gross national disposable income:
| (Rs in crores) | ||
| 1 | Gross domestic fixed capital formation | 400 |
| 2 | Private final consumption expenditure | 8,000 |
| 3 | Government final consumption expenditure | 3,000 |
| 4 | Change in stock | 50 |
| 5 | Consumption of fixed capital | 40 |
| 6 | Net indirect taxes | 100 |
| 7 | Net exports | (-) 60 |
| 8 | Net factor income to abroad | (-) 80 |
| 9 | Net current transfers from abroad | 100 |
| 10 | Dividend | 100 |
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.
Answer the following question.
How can gross domestic product at factor cost be obtained from the gross national product at market price?
Define the Gross Domestic Product.
What is a sectoral composition of an economy?
Which of the following economic reforms in India leads to social justice and welfare?
For meaningful comparison common price level base is used because ______
Profits earned by a branch of a foreign bank in India are ______ in the domestic product of India.
______ is the difference between Domestic Income and National Income.
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.
What does the Factor Cost represent?
Real GDP is considered as an index of:
Assertion: With every increase in the level of GDP, social welfare definitely increases in the economy.
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.
Suppose in a hypothetical economy there are only two Firms A and B, Firm A sold goods for ₹ 2,000 to Firm B and purchased goods for ₹ 1,000. Firm B exported goods for ₹ 2,500 and had domestic sales of ₹ 1,500. Calculate Net Domestic Product at market price, if consumption of fixed capital is ₹ 200.
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 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 |
“While estimating Gross Domestic Product (GDP) by expenditure method, entire focus is on expenditures incurred by the residents of the country.” Do you agree with the given statement? Give valid reason in support of your answer.
