National Income and Related Aggregates-Important Questions

IMPORTANT QUESTIONS

CHAPTER 13: National Income and Related Aggregates

  1. Define national income?
  2. What is the difference between national and domestic income?
  3. Define the following:-
    1. Gross Domestic Product at Factor Cost
    2. Net Domestic Product at Market Price
    3. Net domestic Product at Factor Cost
    4. Gross National Product at Market Price
  4. Write the difference between gross domestic product at market price and national income?
  5. Mention the situations in which the following equations will hold true:
    1. National income = Domestic income
    2. GDPFC > GDPMP
    3. NNPFC < NDPFC
    4. GDPFC = GDPMP
  6. Discuss the concepts of:
    1. NDP at MP
    2. GNP at FC
    3. GDP at MP
  7. Define private income? Explain the types of private income
  8. Write the steps to calculate private income?
  9. Define the following:-
    1. Personal Disposable Income
    2. National Disposable Income
    3. Gross National Disposable Income
  10. Calculate GNP at FC.
    Particulars Rs. in Crores
    NDP at MP 80,000
    Net Factor Income From Abroad −200
    Depreciation 4,950
    Subsidies 1,770
    Indirect Tax 10,600
  11. Calculate Domestic income:-
    Particulars Rs. in Crores
    GNP at FC 2,700
    Indirect Taxes 60
    Factor Income From Abroad 150
    Factor Income to Abroad 180
    Replacement of fixed capital 150
  12. Calculate Indirect Taxes from the following data:-
    Particulars Rs. in crores
    NDP at FC 55,915
    Subsidies 1,540
    Factor Income from abroad 625
    Consumption of fixed capital 1,625
    Factor Income to abroad 865
    Subsidies 58,350