HARD
Earn 100

Given the following data, find the missing values of Gross Domestic Capital Formation and Wages and Salaries.

Particulars ₹ in crores
(i) Mixed Income of Self Employed 3,500
(ii) Net Indirect Taxes 300
(iii) Wages and Salaries ?
(iv) Government Final Consumption Expenditure 14,000
(v) Net Exports 3,000
(vi) Consumption of Fixed Capital 300
(vii) Net Factor Income from Abroad 700
(viii) Operating Surplus 12,000
(ix) National Income 30,000
(x) Profits 500
(xi) Gross Domestic Capital Formation ?
(xii) Private Final Consumption Expenditure 11,000

 

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Important Questions on National Income Accounting

EASY
_____ phase involves flow of factor income from firms to the households.
HARD
Replacement cost and depreciation of the asset are same.
EASY
National Income of a country is a stock concept.
EASY
_____ variable refers to that variable, which is measured at a particular point of time.
EASY
Circular flow of income does not take place in case of closed economy.
HARD
What is the difference between planned and unplanned inventory accumulation? Write down the relation between change in inventories and value added of a firm.
EASY
Rs 2,000 note lying in wallet of Rohini, a student is an example of _____ (stock/flow) variable.
EASY
_____ flow determines the magnitude of growth process in an economy.
HARD
Write down the three identities of calculating the GDP of a country by the three methods. Also briefly explain why each of these should give us the same value of GDP.
EASY
Flow of factor payments and payments for goods and services between households and firms is known as _____ (Nominal Flow/Physical Flow).
HARD
Why should the aggregate final expenditure of an economy be equal to the aggregate factor payments? Explain.
EASY
Generation and distribution are the two phases in circular flow of income.