Economy, asked by greattask8361, 9 months ago

Numerical 50 on national income class 12 sandep garg

Answers

Answered by satyamc1568
1

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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