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![Balbharati solutions for Economics [English] 12 Standard HSC chapter 7 - National Income - Shaalaa.com](/images/economics-english-12-standard-hsc_6:241bfd6f9011433b9b44c9de23ef18a7.JPG "Balbharati solutions for Economics [English] 12 Standard HSC chapter 7 - National Income")
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Solutions for Chapter 7: National Income
Below listed, you can find solutions for Chapter 7 of Maharashtra State Board Balbharati for Economics [English] 12 Standard HSC.
Balbharati solutions for Economics [English] 12 Standard HSC 7 National Income Exercise [Page 69]
While estimating national income, we include only the value of final goods and services in order to ______.
make computation easier
Avoid double counting
maximize national welfare of the people
evaluate the total economic performance of a nation
NDP is obtained by ______.
deducting depreciation from GNP
deducting depreciation from GDP
including depreciation in GDP
including depreciation in GNP
In India, national income is estimated using ______.
output method
income method
expenditure method
combination of output and income method
Complete the Correlation:
______ : C + I + G + (X-M) :: GNP : C + I + G + (X-M) + (R-P).
Complete the correlation:
Output method : __________ :: Income method : Factor cost method
Complete the Correlation:
Theoretical difficulty : Transfer payments :: ______ : Valuation of Inventories.
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 |
a
b
c
d
Identify and explain the following concept:
Vrinda receives monthly pension of Rs. 5,000/- from the state government.
Identify & Explain the Concepts from the given illustration:
Viru kept aside 100 kgs. out of 500 kgs. of wheat produced on his farm for his family.
Identify and explain the following concept:
Sheetal purchased wheat flour for her bakery from the flour mill.
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.
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.
Explain the two-sector model of the circular flow of national income.
Explain the importance of National income.
Explain any four features of national income.
Explain the concept of Green GNP.
State with reason, whether you agree or disagree with the following statement:
There are many theoretical difficulties in the measurement of national income.
Agree
Disagree
State with reason, whether you agree or disagree with the following statement:
Under the output method, the value-added approach is used to avoid double counting.
Agree
Disagree
Write any four practical difficulties in national income estimation.
Explain the income method and expenditure method of measuring national income.
Solutions for 7: National Income
Balbharati solutions for Economics [English] 12 Standard HSC chapter 7 - National Income
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Concepts covered in Economics [English] 12 Standard HSC chapter 7 National Income are Concept of National Income, Different Concepts of National Income, Difficulties in the Measurement of National Income, Importance of National Income Analysis, Features of National Income, Circular Flow of National Income, Methods of Measurement of National Income, Output Method/Product Method, Income Method, Expenditure Method.
Using Balbharati Economics [English] 12 Standard HSC solutions National Income exercise by students is an easy way to prepare for the exams, as they involve solutions arranged chapter-wise and also page-wise. The questions involved in Balbharati Solutions are essential questions that can be asked in the final exam. Maximum Maharashtra State Board Economics [English] 12 Standard HSC students prefer Balbharati Textbook Solutions to score more in exams.
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