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प्रश्न
What is the solution to the problem of double counting in the estimation of national income?
उत्तर
- The value obtained is actually the GNP at market prices. Care must be taken to avoid double counting.
- The value of the final product is derived by the summation of all the values added in the productive process.
- To avoid double counting, either the value of the final output should be taken into the estimate of GNP or the sum of values added should be taken.
- Double counting is to be avoided under value added method.
- Any commodity which is either raw material or intermediate good for the final production should not be included.
- For example, value of cotton enters value of yam as cost, and value of yam in cloth and
that of cloth in garments. - At every stage value added only should be calculated.
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संबंधित प्रश्न
Giving reason explain how should the following be treated in estimating national income:
i. Expenditure on fertilizers by a farmer.
ii. Purchase of tractor by a farmer.
Other things remaining unchanged, when in a country the price of foreign currency rises, national income is: (choose the correct alternative)
a. Likely to rise
b. Likely to fall
c. Likely to rise and fall both
d. Not affected
Calculate 'Marginal Propensity to Consume' from the following data about an economy which is in equilibrium:
National income = 800
Autonomous consumption expenditure = 100
Investment expenditure = 100
State whether the following statements are TRUE or FALSE with reason.
National income is a flow concept.
Answer in brief.
Give different definitions of National Income.
Give reason or explain the following statement:
Income from second hand sale of goods is excluded from national income.
State whether the following statement is true or false.
Financial year in India is leap year.
Define the following:
Income from property and entrepreneurship
Study the following table, figure, passage and answer the question given below it.
| Components of GNP for the year 2018 |
In crores |
| Consumption | 200 |
| Investment | 300 |
| Govt.Expenditure | 400 |
| Net export | - 100 |
| Net receipts | - 50 |
| Depreciation | 100 |
A. Complete the formula
GNP = C + `square` + G + (X - M) + `square` (1m)
B. Calculate Gross National Product & Net National Product from the above data. (3m)
GNP =______ + Net factor income from abroad.
The value of NNP at production point is called______.
The average income of the country is______.
Write the formula for calculating GNP.
Differentiate between personal and disposable income.
NNPFC =
Net National Income at Factor Cost is called?
The market value of all final goods and services produced in an economy over a year is called:
If factor cost is greater than marker price, it means that:
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.
