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    Test 2

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    Bhjan Garg
    The document contains sample questions and practice problems related to calculating national income and GDP. It includes questions about what should be excluded from GNP calculations, differences between real and nominal GDP, and how to treat various items when estimating national income. It also provides data to calculate GDP at market price and its components, as well as gross domestic product and factor income from abroad.

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    Download as PDF, TXT or read online from Scribd

    Test 2

    Uploaded by

    Bhjan Garg
    59 views2 pages
    The document contains sample questions and practice problems related to calculating national income and GDP. It includes questions about what should be excluded from GNP calculations, differences between real and nominal GDP, and how to treat various items when estimating national income. It also provides data to calculate GDP at market price and its components, as well as gross domestic product and factor income from abroad.

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    test 2

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    The document contains sample questions and practice problems related to calculating national income and GDP. It includes questions about what should be excluded from GNP calculations, differences between real and nominal GDP, and how to treat various items when estimating national income. It also provides data to calculate GDP at market price and its components, as well as gross domestic product and factor income from abroad.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    59 views2 pages

    Test 2

    Uploaded by

    Bhjan Garg
    The document contains sample questions and practice problems related to calculating national income and GDP. It includes questions about what should be excluded from GNP calculations, differences between real and nominal GDP, and how to treat various items when estimating national income. It also provides data to calculate GDP at market price and its components, as well as gross domestic product and factor income from abroad.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    VIDYA SAGAR CAREER INSTITUTE LTD.

    CLASS C- 12TH — ECONOMICS


    TOPIC – NATIONAL INCOME
    1. While calculating GNP which should be excluded? 1
    (a) Rental Income (b) Interest Payment
    (c) Dividends (d) Govt. Transfer payments

    2. GDP at constant prices is lower than GDP at current prices during a 1


    period of
    (a) Falling prices (b) Rising Prices
    (c) Stable Prices (d) Changing Prices

    4. Write two precautions while estimating national income 2


    5. True and False 3
    State whether the following statements are true or false? Give reasons for your
    answer.
    (i) Interest on national debt is a part of National Income.
    (ii) Bonus paid by employer is a part of COE.
    (iii) Gross domestic capital formation is always equal to gross fixed capital
    formation.

    5. Firm X buys from A inputs worth `1,000 crores and sales to firm Y goods worth 3
    of `1500 crores and to firm Z goods worth `1,200 crores. Firm Y buys from B
    inputs worth `500 crores and sales to firm Z goods worth for `2000 crores and
    finished goods worth `3000 crores. Firm Z buys from C inputs worth `300
    crores and sales finished goods worth of `7000 crores to households. Calculate
    value added by firms X, Y and Z.

    6. Distinguish between real GDP & Nominal GDP which of these is a better index 3
    of welfare of the people and why?

    7. How non-monetary exchanges are considered as limitation of GDP in the 3


    estimation of welfare

    3. While estimating National Income, how will you treat the following? 4
    (a) Purchase by foreign tourist
    (b) Salary received by an Indian resident working in American embassy in
    India.
    (c) Money received from sale of second hand goods.
    (d) Services rendered by family members to each others.

    9. Calculate GDP at Market Price from the following data: 4


    Items ` in Crores
    (i) Wages and Salaries 325
    (ii) Profits 200
    (iii) Rent 138
    (iv) Compensation of employees 975
    (v) Mixed income of self employed 240
    (vi) Subsidies 75
    (vii) Consumption of fixed capital 150
    (viii) Indirect taxes 35
    (ix) Net factor income from abroad 30
    (ix) Domestic Sales 400
    (xi) Interest 142

    10. Calculate : 6
    (a) Gross Domestic Product at Market Price, and
    (b) Factor Income from Abroad.
    From the following data:
    Items ` in Crores
    (i) Exports 40
    (ii) Interest 400
    (iii) Profits 500
    (iv) Rent 300
    (v) Change in stock 50
    (vi) Compensation of employees 1500
    (vii) Net domestic capital formation 650
    (viii) Gross fixed capital formation 700
    (ix) Net Indirect taxes 250
    (x) Factor income to abroad 120
    (xi) Gross national product at factor cost 2800
    (xii) Net current transfers from ROW 90

    *********

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