Advertisements
Advertisements
प्रश्न
Given normal income, how can we find real income? Explain.
Advertisements
उत्तर
Real income can be calculated by applying the following formula:
Real Income = `"Nominal Income"/"Price Index of Current Year" xx "Price Index of Base Year" `
Consider Price Index of base year as 100
When nominal income is given, we can convert into real income with the of GDP deflator
Real income = `"Nominal Income"/"GDP deflator" xx 100`
APPEARS IN
संबंधित प्रश्न
Explain non-monetary exchanges as a limitation of using the gross domestic product as an index of the welfare of a country
“Income method” is also known as ______.
From the following data, calculate Personal Income and Personal Disposable Income.
| Rs (crore) | ||
| (a) | Net Domestic Product at factor cost | 8,000 |
| (b) | Net Factor Income from abroad | 200 |
| (c) | Undisbursed Profit | 1,000 |
| (d) | Corporate Tax | 500 |
| (e) | Interest Received by Households | 1,500 |
| (f) | Interest Paid by Households | 1,200 |
| (g) | Transfer Income | 300 |
| (h) | Personal Tax | 500 |
Identify the correctly matched pair of items in Column A to those in Column B:
| Column A | Column B |
| 1. Income Tax | (a) Forced Transfer |
| 2. Services of Housewives | (b) Market Activities |
| 3. Retirement Pension | (c) Taxable for Firm |
| 4. Annual value of goods and services produced. | (d) Income method |
With a rise in real national income, welfare of the people ______
In an economy, C = 300 + 0.5Y and I = ?. 600/- (where C = consumption, Y = income or investment). Computer the Consumption expenditure at equilibrium level of income
We suppose that C = 70 + 0.70Y D, I = 90, G = 100, T = 0.10Y (1) Find the equilibrium income
Suppose C = 40 + 0.8Y D. T = 50, I = 60, G = 40, X = 90, M = 50 + 0.05Y. Find equilibrium income
Suppose C = 40 + 0.8Y D. T = 50, I = 60, G = 40, X = 90, M = 50 + 0.05Y. Find the net export balance at equilibrium income
______ is the part of Profit.
How is the interest earned by normal resident treated?
What is the other name for Income Method?
Assertion (A): Profits of chemical industries increased 150%; fishermen income reduced by 70% due to untreated chemical pollutants in water bodies. This is a negative externality.
Reason (R): The profits of chemical industries is causing pollution which is harming the water and inturn leading the fishermen to catch less fish as the biodiversity of the water body is disturbed.
Read the following figure carefully and choose the correct pair from the alternatives given below:
Distinguish between Factor Cost and Market Price.
Find the odd word out:
Transfer payments:
Calculate National Income using Income method and Output method.
| PARTICULARS | (₹ crores) | |
| (i) | Value of output | 1200 |
| (ii) | Wages and salaries | 165 |
| (iii) | Rent | 60 |
| (iv) | Subsidies | 15 |
| (v) | Mixed Income of self employed | 180 |
| (vi) | Employer's contribution to social security | 15 |
| (vii) | Value of intermediate consumption | 600 |
| (viii) | Interest | 7 |
| (ix) | Factor income earned from abroad | 15 |
| (x) | Indirect taxes | 90 |
| (xi) | Profits | 23 |
| (xii) | Depreciation | 75 |
| (xiii) | Factor income paid abroad | 30 |
With reference to the diagram shown above, select the reason for the movement from point M to N from the following options.
