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Non-Competitive Markets
Calculate national income by (a) income method, and (b) expenditure method.
|
(र in crores) |
||||
|
Set I |
Set II |
Set III |
||
|
(i) |
Wsges and salaries |
500 |
500 |
500 |
|
(ii) |
Government final consumption expenditure |
120 |
120 |
120 |
|
(iii) |
Royalty |
20 |
20 |
20 |
|
(iv) |
Interest |
40 |
40 |
40 |
|
(v) |
Household final consumption expenditure |
600 |
600 |
600 |
|
(vi) |
Change in stocks |
10 |
10 |
10 |
|
(vii) |
Indirect tax |
100 |
100 |
100 |
|
(viii) |
Rent |
50 |
50 |
50 |
|
(ix) |
Final consumption expenditure of private non-profit institutions serving households |
30 |
30 |
30 |
|
(x) |
Net domestic fix capital formation |
60 |
60 |
60 |
|
(xi) |
Profit after tax |
100 |
100 |
100 |
|
(xii) |
Corporate tax |
20 |
20 |
20 |
|
(xiii) |
Net exports |
-20 |
-20 |
-20 |
|
(xiv) |
Subsidies |
30 |
30 |
30 |
|
(xv) |
Net factor income from abroad |
-5 |
5 |
-10 |
(a) National income (NNP at FC) by income method :
Set I = 500 + 20 + 40 + 50 + 100 + 20 + (-5) = 725 crores
Set II = 500 + 20 + 40 + 50 + 100 + 20 + (+5) = 735 crores
Set III = 500 + 20 + 40 + 50 + 100 + 20 + (-10) = 720 crores
(b) National income by expenditure method :
Set I = 120 + 600 + 10 - 100 + 30 + 60 + (-20) + 30 + (-5)
= 725 crores
Set II = 120 + 600 + 10 - 100 + 30 + 60 + (-20) + 30 + 5 = 735 crores
Set III = 120 + 600 + 10 - 100 + 30 + 60 + (-20) + 30 + (-10)
= 720 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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