Advertisements
Advertisements
प्रश्न
State whether the following statement is true or false.
Inclusion of value of intermediate goods leads to double counting.
पर्याय
True
False
उत्तर
Inclusion of value of intermediate goods leads to double counting. - True
Explanation:
The above statement is correct. Inclusion of the value of intermediate goods leads to double counting as the value of intermediate goods is already reflected in the value of the final goods. Thus, if the value of intermediate goods is also included in the calculation of income, then it would mean that their value is included twice, first as their own value and second as a part of value of final goods. Thus, to avoid this problem only the value of final goods and services is included in the estimation of national income.
APPEARS IN
संबंधित प्रश्न
Total Cost and Total Revenue.
Distinguish between Gross National Product and Net National Product.
Explain the various methods of measuring national income.
Unpaid services are not included in national income.
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 |
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
If real income is Rs 400 and price index is 105, calculate nominal income.
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
Calculate (a) National Income, and (b) Net National Disposable Income:
| (Rs In crores) | |
| (i) Compensation of employees | 2,000 |
| (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 |
| (xi) Net current transfers to aboard | 30 |
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 |
Giving reason explain how should the following be treated in the estimation of national income:
Payment of corporate tax by a firm
Calculation National Income and Personal Disposable Income:
| (Rs crores) | ||
| 1 | Personal tax | 80 |
| 2 | Private final consumption expenditure | 600 |
| 3 | Undistributed profits | 30 |
| 4 | Private income | 650 |
| 5 | Government final consumption expenditure | 100 |
| 6 | Corporate tax | 50 |
| 7 | Net domestic fixed capital formation | 70 |
| 8 | Net indirect tax | 60 |
| 9 | Depreciation | 14 |
| 10 | Change in stocks | (-)10 |
| 11 | Net imports | 20 |
| 12 | Net factor income to abroad | 10 |
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 |
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
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 |
How should the following be treated while estimating national income? You must give the reason in support of your answer.
Bonus paid to employees
How should the following be treated while estimating national income? You must give the reason in support of your answer.
Addition to stocks during a year
Investment made by the government is _____________ investment.(unplanned/gross/autonomous/induced)
Give reasons or explain the following
The propensity to save depends upon the level of 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.
Distinguish between the following :
Output method and Income method of measuring national income.
Write explanatory answer:
Explain the output method of measuring national income.
Fill in the blank using proper alternative given in the bracket:
National income is ........ concept.
State whether the following statement is True or False
Total Revenue = Total quantity x Price.
Define or explain the following concept.
Disposable income.
Distinguish between.
Personal income and National Income.
Define or explain the following concept.
Induced Consumption expenditure.
Write Explanatory answer. (Any Two )
What is national income. Explain how national income is mesured by output method
State whether the following statements are TRUE or FALSE with reason.
National income is a flow concept.
Give reasons or explain the following statements:
The net national income is less than gross 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:
The money value of intermediate goods is not included in the estimation of national income.
Answer in detail:
Explain the Output method of measuring National income.
Distinguish between:
Gross national product and Gross domestic product.
Distinguish between:
Net national product and Net domestic product.
Distinguish between:
Output method of measuring national income and Income method of measuring national income.
Distinguish between:
Gross National Product and Net National Product
Write short note on:
Value added approach
Write short note on:
Expenditure method of measuring national income.
Write short note on:
Circular flow of national income
Define or explain the following concept:
National income
Define or explain the following concept:
Personal income
Define or explain the following concept:
Depreciation
Give reason or explain the following statement:
National income at factor cost includes subsidy.
Give reason or explain the following statement:
Paid services are included in national income.
State whether the following statement is true or false.
GDP includes net income from abroad.
State whether the following statement is true or false.
Services of housewives are included in national income.
Fill in the blank with appropriate alternatives given below
GDP (FC) = GDP (MP) – __________
Fill in the blank with appropriate alternatives given below
National income is __________ concept.
Answer the following question.
Define the problem of double counting in the computation of national income. State any two approaches to correct the problem of double counting.
Define the following:
Income from property and entrepreneurship
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 2018-2019.
Find the odd word
Concepts of national income -
Complete the following statement.
NNP is obtained by ______.
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.
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______.
The value of NNP at production point is called______.
Define GDP deflator.
Differentiate between personal and disposable 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.
NNPFC =
Which of the following items are excluded from GNP measurement?
GDP MP = Rs.1000 and subsidies = Rs.50, then GDP FC will be ______.
Which one is true?
NNPMP =?
If economic subsidies are added to and Indirect taxes are substracted from the national income at market prices, then it will be equal to ______.
Total national income divided by total population is known as:
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.
How should the following be treated in estimating National Income of a Country? Give valid reasons.
Profit earned by Foreign Banks in India.
How should the following be treated in estimating National Income of a Country? Give valid reasons.
Expenditure on upgradation of fixed asset by a firm.
What is ‘National Income’?
