MEDIUM
Earn 100

Calculate NNP at FC.

Particulars ₹ in crores
(i) Net Current Transfers from rest of the world 80
(ii) Wages and Salaries 600
(iii) Net indirect taxes 75
(iv) Net Factor income from abroad (-) 20
(v) Rent and interest 160
(vi) Corporation tax 40
(vii) Mixed-Income of the self-employed 280
(viii) Undistributed profit 60
(ix) Dividend 20
(x) Consumption of fixed capital 120

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Important Questions on National Income Accounting

EASY
Economics>Macroeconomics>National Income Accounting>Calculation of National Income
Circular flow of income does not take place in case of closed economy.
EASY
Economics>Macroeconomics>National Income Accounting>Calculation of National Income
Flow of factor payments and payments for goods and services between households and firms is known as _____ (Nominal Flow/Physical Flow).
HARD
Economics>Macroeconomics>National Income Accounting>Calculation of National Income
Replacement cost and depreciation of the asset are same.
EASY
Economics>Macroeconomics>National Income Accounting>Calculation of National Income
National Income of a country is a stock concept.
EASY
Economics>Macroeconomics>National Income Accounting>Calculation of National Income
Rs 2,000 note lying in wallet of Rohini, a student is an example of _____ (stock/flow) variable.
EASY
Economics>Macroeconomics>National Income Accounting>Calculation of National Income
_____ variable refers to that variable, which is measured at a particular point of time.
EASY
Economics>Macroeconomics>National Income Accounting>Calculation of National Income
There are no exports in a closed economy.
HARD
Economics>Macroeconomics>National Income Accounting>Calculation of National Income
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
Economics>Macroeconomics>National Income Accounting>Calculation of National Income
_____ variable is a dynamic concept.
EASY
Economics>Macroeconomics>National Income Accounting>Calculation of National Income
Real flow is also known as nominal flow.
EASY
Economics>Macroeconomics>National Income Accounting>Calculation of National Income
Real Flow is also known as _____.
EASY
Economics>Macroeconomics>National Income Accounting>Calculation of National Income
Capital formation is a flow.
EASY
Economics>Macroeconomics>National Income Accounting>Calculation of National Income
_____ flow determines the magnitude of growth process in an economy.
EASY
Economics>Macroeconomics>National Income Accounting>Calculation of National Income
'Inventory is a stock variable.'
HARD
Economics>Macroeconomics>National Income Accounting>Calculation of National Income
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
Economics>Macroeconomics>National Income Accounting>Calculation of National Income
_____ phase involves flow of factor income from firms to the households.
EASY
Economics>Macroeconomics>National Income Accounting>Calculation of National Income
Cotyledons are also called-
HARD
Economics>Macroeconomics>National Income Accounting>Calculation of National Income
Why should the aggregate final expenditure of an economy be equal to the aggregate factor payments? Explain.
EASY
Economics>Macroeconomics>National Income Accounting>Calculation of National Income
Generation and distribution are the two phases in circular flow of income.
EASY
Economics>Macroeconomics>National Income Accounting>Calculation of National Income
_____ is also known as Nominal Flow.