Question

Calculate Gross National Product at Market Price from the following:

(i) Net factor income to abroad 10
(ii) Net indirect tax 250
(iii)Operating surplus 300
(iv) Corporation tax. 150
(v) Undistributed profits 30
(vi) Mixed income 500
(vii) Consumption of fixed capital 100
(viii) Compensation of employees. 1200




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Answer 1

Answer:

Gross National Product at Market Price = Wages and salaries + Social security contribution by employers + Operating surplus + Mixed income of self employed + Depreciation − Net Factor Income to Abroad + Net Indirect taxes

Gross National Product at Market Price =800+100+200+500+30−(−20)+70

Gross National Product at Market Price =Rs1,720crore

Personal Income = Personal disposable income + Personal tax Personal Income =1200+150

Personal Income =Rs1,350crore

Explanation:

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