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Non-Competitive Markets
Calculate (a) GDP at MP, and (b) Factor income from abroad from the following data.
|
(र in crore) |
||
|
(i) |
Profits |
500 |
|
(ii) |
Exports |
40 |
|
(iii) |
Compensation of employees |
1500 |
|
(iv) |
GNP at FC |
2800 |
|
(v) |
Net current transfers from rest of the world |
90 |
|
(vi) |
Rent |
300 |
|
(vii) |
Interest |
400 |
|
(viii) |
Factor income to abroad |
120 |
|
(ix) |
Net indirect tax |
250 |
|
(x) |
Net domestic capital formation |
650 |
|
(xi) |
Gross fixed capital formation |
700 |
|
(xii) |
Change in stock |
50 |
NDP at FC (Domestic income) = 500 + 1500 + 300 + 400 = 2700
Depreciation = (xi) + (xii) - (x) = 700 + 50 - 650 = 100
(i) GDP at MP = NDP at FC + Depreciation + NIT
= 2700 + 100 + 250
= 3050 crore.
(ii) NFIA = NNP at FC - NDP at FC
= (2800 - 100) - 2700 = 0
Factor income from abroad = NFI A+ Factor income to abroad
= 0 + 120
= 120 crore.
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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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