Non-Competitive Markets
Calculate (a) NDP at FC, and (b) Personal income from the following data :
(र in crores) |
||
(i) |
Private final consumption expenditure |
700 |
(ii) |
Savings of non-departmental enterprises |
20 |
(iii) |
Net domestic capital formation |
100 |
(iv) |
Undistributed profit |
5 |
(v) |
Change in stock |
10 |
(vi) |
Corporation tax |
35 |
(vii) |
Net exports |
40 |
(viii) |
Income from property and entrepreneurship accruing to government adminstrative departments |
30 |
(ix) |
National debt interest |
40 |
(x) |
Government final consumption expenditure |
150 |
(xi) |
Current transfers from government |
25 |
(xii) |
Net factor income from abroad |
- 10 |
(xiii) |
Net current transfers from ROW |
10 |
(xiv) |
Net indirect taxes |
60 |
(xv) |
Personal taxes |
35 |
(a) NDP at MP (Expenditure method) = 700 + 100 + 10 + 40 + 150 = 1000
NDP at FC = GDP at MP - NIT
= 1,000 - 60 = 940 crores
(b) Personal Income = NDP at FC - Govt. surplus - Undistributed profit - Corporation tax + All types of transfer income + NFIA
= 940 - 20 - 30 - 5 - 35 + (40 + 25 + 10) + (- 10)
= 915 crores
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Distinguish between microeconomics and macroeconomics.
Give an example of showing the difference between microeconomics and macroeconomics.
Giving reasons categorise the following into intermediate products and final products:
(i) Furniture purchased by a school
(ii) Chalks, dusters purchased by a school.
Giving reasons categorise the following into stocks and flows:
(i) Losses (ii) Capital (iii) Production (iv) Wealth.
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