(i) The value of intermediate goods should not be included. display: block; (ii) Interest paid by an individual on a car loan taken from a bank. (ii) Payment of salaries to its staff by an embassy located in New Delhi. ambitiousaayushi is waiting for your help. Net Value Added at Factor Cost (NVAFC) = Sales + Change in Stock (Closing Stock- Opening Stock)- Purchase of Intermediate Goods – Consumption of Fixed Capital – Indirect Tax .center { (i) Payment of fees to a lawyer by a firm. Gross National Product at Market Price (GNPmp) = NDPFC + Net Indirect Taxes – Net Factor 30 Calculate operating surplus some_ surplus . + (Excise Duty – Subsidy) + Intermediate Consumption Ans. Ans. Operating Surplus = Rent and Interest + Corporation Tax + Dividend + Undistributed Profits= 800 + 460 + 300 + 940 = 25002. Add your answer and earn points. It can be classified into following components: etc., that represent the broad characterist Simply apply as teacher, take eligibility test and start working with us. (ii) Rent free house to an employee by an employer will be included while estimating National Income, as it is a part of compensation to the employee. (i) Compensation of employees Calculate (A) Operating Surplus, and (B) Domestic Income : Concept: Aggregates Related to National Income - Domestic Income (NDP). (ii) Profits earned by an Indian company from its branches in Singapore. (b) National Income (All India 2009), Ans. National Income (NNPFC) = Gross Value Added at Market Price by the Primary Sector+ Gross Value Added at Market Price by the Secondary Sector + Gross Value Added at Market Price by the Tertiary Sector-Net Indirect Taxes-Consumption of Fixed Capital + Net Factor Income from Abroad (i) Remittances from non-resident Indians to a resident in India should not be included in the estimation of domestic factor income as it is not a part of domestic income and the income is not generated in domestic territory of India. Methods of Calculating National Income, (i) Income method 830 crore Posted by Varnika Sharma 3 years, 2 months ago, Richa Aggarwal (ii) Payment of interest on loan taken by an employee from the employer will ‘not’ be included in the estimation of National Income as it will be treated as transfer income, also loan is taken for consumption purpose. 700 crore, 11. (b) Private income from the following data (All India 2011), Ans. Subsidy =50 = Rs. 31. Give reasons for your answer. = Rs. benefit) by taking the difference of the highest they would pay and the actual price they pay.Here is the formula for consumer surplus: 40 (i) Fees to a mechanic paid by a firm. Calculate National Income and Net National Disposable Income from the following (All India 2014), Ans. (iii) Net Factor Income from Abroad }, .btn { 400 (iii) Interest on public debt will not be included while estimating National Income, as it is the loan taken for consumption purpose. (ii)Earning of shareholders from the sale of shares will not be included while National Income, as it will be considered as transfer payment. 290 crore Value of Output = Net Value Added at Factor Cost (NVAFC) + Depreciation 200 0 CBSE CBSE (Commerce) Class 12 }, No software required, no contract to sign. Net Value Added at Factor Cost (NVAFC) = Value of Output (Sales + Change in Stock)-Purchase of = 880-540 Give reasons for your answer. (iii) Investment expenditure or gross domestic capital formation. Net Domestic Product at Factor Cost (NDPFC) = Value of Output in Economic Territory-(Intermediate Purchase by Primary Sector+ Intermediate Purchase by Secondary Sector + Intermediate Purchase by Tertiary Sector)-Consumption of Fixed Capital – Indirect Taxes 25.Giving reason, explain how should the following be treated while estimating National Income (All India 2012) (i) Dividend received by an Indian firm from its investment in shares of a foreign company will be included in the estimation of National Income, as dividend is a part of profit and treated as factor income from abroad which is added to domestic income. =Rs. Calculate Net Domestic Product at Factor Cost by margin-left: auto; 43. Expenditure Method By this method, the total sum of expenditures on the purchase of final goods and services produced during an accounting year within an economy is estimated to obtain the value of domestic income. (b) National Income = Gross Value Added (GVA) by A and B = (310 + 290) crores From the following data calculate Net Value Added at Factor Cost, Ans. Sale (i) Capital gain on sale of a house. = 750 – 690 = Rs. (iii) Expenditure on machines for installation in a factory will be included while estimating National Income, as it is a final consumption expenditure by factory management. Calculate State whether the economy is in equilibrium or not. (ii) Payment of interest by a government firm should ‘not’ be included in the estimation of National Income, as it is a transfer payment. .fnt { Calculate National Income: (Compartment 2014), = Government Final Consumption Expenditure + Private Final Consumption Expenditure + Net Domestic Capital Formation + Net Exports – NIT + NFIA CBSE Previous Year Question Paper With Solution for Class 12 Arts, CBSE Previous Year Question Paper With Solution for Class 12 Commerce, CBSE Previous Year Question Paper With Solution for Class 12 Science, CBSE Previous Year Question Paper With Solution for Class 10, Maharashtra State Board Previous Year Question Paper With Solution for Class 12 Arts, Maharashtra State Board Previous Year Question Paper With Solution for Class 12 Commerce, Maharashtra State Board Previous Year Question Paper With Solution for Class 12 Science, Maharashtra State Board Previous Year Question Paper With Solution for Class 10, CISCE ICSE / ISC Board Previous Year Question Paper With Solution for Class 12 Arts, CISCE ICSE / ISC Board Previous Year Question Paper With Solution for Class 12 Commerce, CISCE ICSE / ISC Board Previous Year Question Paper With Solution for Class 12 Science, CISCE ICSE / ISC Board Previous Year Question Paper With Solution for Class 10, Mumbai university engineering question papers with solutions. 89. (ii) Profits earned by an Indian bank from its abroad branches is included while estimating National Income of India as it is a factor income from abroad. display: block; (ii) Purchase and sale of second hand goods should not be included. = 5500 + 250- 150 + 100 = 5850- 150 (a) Gross National Product at Market Price and (i) Social security contributions by employees is ‘included’ in the estimation of National Income, as it is a part of compensation of employees and it is an earned income. =100 + 500+160 -20-130 = 310+ (20- 10)+ 15+ 25+ (- 5) = 300 + 600 +150 + 50-90 + (-20) } So, it is a part of domestic factor income. 76. 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Ans. 3 years, 2 months ago, Posted by Bhumika Shrivastava 3 hours ago, Posted by Bhumika Choyal 2 days, 23 hours ago, Posted by Ayushi Garg 2 days, 15 hours ago, Posted by Geethu Ponnu 4 days, 14 hours ago, Posted by Manav Sharma 4 days, 17 hours ago, Posted by Archi Mishra Archi Mishra 2 days, 20 hours ago, Posted by Anshika Tomar 3 days, 20 hours ago, .btn { Value Added Method/Product Method/Output Method By this method, the total value of all the final goods and services produced in an economy during a given time period are estimated to obtain the value of domestic income. = Rs. Find out Net Value Added at Factor Cost (All India 2012), 10. = NNPFC + Net Indirect Tax + Consumption of Fixed Capital – Net Current Transfer to Abroad = 685 + (120-20) + 35 -(- 15) (ii) Interest received on debentures are not included in National Income as it is a transfer income. (ii) Rent free house to an employee by an employer. (b) Expenditure method. (i) No, it is not included while estimation of National Income as it is not a factor income. Depending on the way, the income is earned. Ans. amitChavan amitChavan 29.09.2014 Social Sciences Secondary School +5 pts. answered May 8, 2019 by Bhawna (68.4k points) selected May 9, 2019 by faiz . 200 crore 7300 crore Calculate Operating Surplus PARTICULARS Rs (in cr ) GDPmp 10,000 Dpriciation 4,000 Net Indirect Taxes 500 Subsidy 100 Rent 500 Wages in cash 700 Mixed Income 300 Dearness Allowance 200 - Economics - National Income Accounting font-size: 14px; = 500+ (80-60)-350-90-50 (ii) It is not included in the estimation of GDPMP because loans are not used for production purpose. (iii) Financial help received by flood victims are not included while estimating National Income, as it is a kind of transfer payment. Calculate intermediate consumption from the following data, Ans. Find out = 520-490 = Rs. 600 Rent. 960 crore, (a) Gross Domestic Product at Market Price and Rent and royalty +profit+interest is operating surplus. = 140-110 + 5 }, .btn { Methods of Calculating National Income (i) Income method (ii) Expenditure method (iii) Product method or value added method or output method .
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