HARD
Earn 100

Calculate National Income by Income and expenditure method.
 

Particulars

₹ in crores
(i) Government final consumption expenditure 50
(ii) Rent 150
(iii) Opening stock 20
(iv) Interest 80
(v) Profit 70
(vi) Private final consumption expenditure 480
(vii) Gross fixed capital formation 90
(viii) Closing stock 35
(ix) Net exports (-) 5
(x) Net indirect taxes 60
(xi) Compensation of employees 200
(xii) Consumption of fixed capital 20
(xiii) Mixed income of self-employed 50
(xiv) Net factor income from abroad 20

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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.