Numerical 50 on national income class 12 sandep garg
Answers
Here is your answer mate:-
Question 1
Calculate Demostic Income or NDP at FC
Particulars ₹ in crores
GNP at MP
Subsidies
Depreciation
Net Factor income from abroad
Indirect Tax
6,000
200
100
400
300
Solution:
NDP at FC
= GNP at MP- Depreciation-Net Factor income from abroad- (Indirect tax-Subsidies)
= 6,000-100-400- (300-200)
= ₹ 5,400 crores
Question 2
Calculate GNP at MP
Particulars ₹ in crores
Domestic Income or NDP at FC
Depreciation
Indirect Taxes
Net Factor income to abroad
3,200
400
70
50
Solution:
GNP at MP
= NDP at FC + Depreciation – Net Factor income from abroad + Indirect tax
=3,200 + 400-50 + 70
= ₹3,620 crores
Question 3
Calculate National Income or NNP at FC
Particulars ₹ in crores
GDP at MP
Consumption of fixed capital
Goods and services tax
Factor income from abroad
Subsidies
Factor income to abroad
5,500
300
120
150
70
250
Solution:
National Income or NNP at FC
= GDP at MP -M Consumption of fixed capital + (Factor income from abroad – factor income to abroad) – (Goods and Services tax – Subsidies)
=5,500 – 300 + (150-250) – (120-70)
= ₹ 5,050 crores
Explore link:Circular Flow of Income Solutions
Question 4
Define domestic income.
Ans:
Domestic income is the net money value of all the final goods and services produced within the domestic territory of a country during a period of one year.
Question 5
When will GDP of an economy be equal to GNP?
Ans:
GDP and GNP will be equal when the net factor income from abroad is zero
Question 6
In which type of economy, domestic income will be equal to national income?
Ans:
Closed economy
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