10W
5. Why does operating surplus not arise in
i. Subsistence sector and
ii. General government sector of the economy,
6. Export receipts are not a part of net factor income
7. Why is the income earned by working in a bra
domestic factor income of India?
8.
What is GDP deflator? How is it calculated?
TETE
of GDP as an index
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5ii....The general government sector includes all institutional units whose output is intended for individual and collective consumption and mainly financed by compulsory payments made by units belonging to other sectors, and/or all institutional units principally engaged in the redistribution of national income and wealth
6...Goods produced within the domestic territory of a country are to be treated as a part of GDP. (ii) Export receipts refer to revenue of the firms from the sale of its output. These are not the receipts of factor incomes from abroad which are to be in the form of rent, interest, profit and wages.
(7...It is a part of domestic factor income of India, because the branch of foreign bank is within the domestic territory of India
8...The GDP deflator is a measure of price inflation. It is calculated by dividing Nominal GDP by Real GDP and then multiplying by 100. ... Nominal GDP is the market value of goods and services produced in an economy, unadjusted for inflation.
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