Question

. In 2015-16 GDP of country A grew by 10% and population by 2.5%, then the per
capital GDP growth rate is​

Answer 1

Answer:

Step 1: Calculate total sales. This works out to Rs 12.5 lakh.

Step 2: Calculate overlapping sales, called intermediate consumption, that is, sale of one person that becomes raw material for another person. This works out to Rs 45,000.

Step 3: Reduce the total sales by intermediate consumption to eliminate double counting (for instance, the sale value of B includes the cost of steel sheets purchased from D). This works out to Rs 12.05 lakh.