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Question
Complete the Correlation:
______ : C + I + G + (X-M) :: GNP : C + I + G + (X-M) + (R-P).
Solution
GDP : C + I + G + (X-M) :: GNP : C + I + G + (X-M) + (R-P).
RELATED QUESTIONS
NDP is obtained by ______.
Wrongly matched pair:
| a) |
National Income Committee |
1949 |
| b) | Financial year | 1st April to 31st March |
| c) | Income method | National Income = Rent + Wages + Interest + Profit+ Mixed income + Net Income from abroad |
| d) | Expenditure method | National Income = Rent + Wages + Interest + Profit |
Explain the concept of Green GNP.
Identify and explain the following concept:
Rajendra has a total stock of 500 gel pens in his shop which includes the 200 gel pens produced in the previous financial year.
Choose the correct option.
Precautions to be taken while estimating national income by output method:
- Only value of final goods and services must be taken in to account.
- Indirect taxes included in the market prices are to be deducted.
- Subsidies given by the government on certain products must be added.
- Sale and purchase of second hand goods should be considered.
Choose the correct option.
Practical difficulties in the measurement of national income:
- Illegal income
- Problem of double counting
- Inadequate and unreliable data
- Valuation of inventories
Give economic term.
Net market value of all final goods and services produced within the territorial boundaries of a country during a period of one year –
Give an economic term:
Wear and tear of capital assets due to their use in the process of production.
Find the odd word
Practical difficulties in measuring national income -
Assertion and Reasoning type question.
Assertion (A): Transfer payments are included in national income.
Reasoning (R): Transfer payments such as pension, unemployment allowance etc. are a part of government expenditure.
Identify & explain the concept from the given illustration.
Sarla, a retired school teacher receives a monthly pension of ₹ 20,000/- from the Government.
Distinguish Between
Gross Domestic Product and Net Domestic Product
State with reason whether you agree or disagree with the following statement:
Transfer payments are included in national income.
Answer in detail:
Explain in detail the output method of measuring national income
Give economic terms:
The gross market value of all final goods and services produced within the domestic territory of a country during a period of a year.
Study the following table and answer the questions given below it.
| Components | ₹ Crores |
| Consumption (C) | 800/- |
| Investment (I) | 700/- |
| Government Expenditure (G) | 400/- |
| Net Export (X-M) | -150/- |
| Depreciation (D) | 100/- |
- Calculate GDP (Gross Domestic Product) on the basis of the above table.
- Calculate NDP (Net Domestic Product) on the basis of the above table.
Study the following table and answer the questions:
| Components | Crores (₹) |
| Consumption expenditure (C) | 1000 |
| Investment expenditure (I) | 1200 |
| Government expenditure (G) | 500 |
| Net exports (X - M) | `square` |
| Gross Domestic Product | 2500 |
| Depreciation (D) | `square` |
| Net Domestic Product | 2350 |
Questions:
- Calculate the value of net exports on the basis of the above table.
- Calculate the value of depreciation on the basis of the above table.
Complete the correlation:
C : Consumption Expenditure : : ______ : Net Exports.
Distinguish between:
Net National Product and Net Domestic Product
