Question

6.calculate GNP at FC by income and expenditure method.
i. Compensation of employees. 1000
ii. Operating surplus. 500
iii. Employers contribution to social security. 120
iv. Net export. (-) 30
v. Net indirect tax. 40
vi. Mixed income. 600
vii. Net factor income to abroad. 20
viii. Consumption of fixed capital. 40
ix. Private final consumption expenditure. 1440
x. Govt final consumption expenditure. 490
xi. Gross fixed capital formation. 250
xii. Change in stock. 30
xiii. Interest on national debt. 25

Answer 1

Answer:

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Explanation:

Here is your answer-

National income (income method) = Compensation of employees + Profits + Rent + Interest + Mixed income of self employed - Net factor income to abroad = 700 + 600 + 200 + 310 + 350 - 10 = 2150 crores

National income (expenditure method) = Govt. final consumption expenditure+Net domestic capital formation+Net exports+Private final consumption expenditure-Net indirect taxes-Net factor income to abroad=750 + 385 - 15 + 1100 - 60 - 10 = 2150 crores.

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Answer 2

Explanation:

calculate GNP at FC by income and expenditure method.

i. Compensation of employees. 1000

ii. Operating surplus. 500

iii. Employers contribution to social security. 120

iv. Net export. (-) 30

v. Net indirect tax. 40

vi. Mixed income. 600

vii. Net factor income to abroad. 20

viii. Consumption of fixed capital. 40

ix. Private final consumption expenditure. 1440

x. Govt final consumption expenditure. 490

xi. Gross fixed capital formation. 250

xii. Change in stock. 30

xiii. Interest on national debt. 25