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Calculate the 'National Income' and 'Private Income' : Net Factor Income to Abroad National Debt Interest Wages and Salaries Current Transfers from Government Undistributed Profit - CBSE (Arts) Class 12 - Economics

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Question

Calculate the 'National Income' and 'Private Income' :

    (Rs in crores)
1 Rent 200
2 Net factor income to abroad 10
3 National debt interest 15
4 Wages and salaries 700
5 Current transfers from government 10
6 Undistributed profit 20
7 Corporation tax 30
8 Interest 150
9 Social security contributions by employers 100
10 Net domestic product accruing to government 250
11 Net current transfers to rest of the world 5
12 Dividends 50

 

Solution

National Income = Wages and salaries + Social security contributions by employers + Rent + Interest + Dividends + Corporation tax + Undistributed profits - Net factor income to abroad

NNPFC = 700 + 100 + 200 + 150 + 50 + 30 + 20 − 10

= 1240 crore

Private Income = National income − Net domestic product accruing to government + Current transfer from government − Net current transfers to the rest of the world + National debt interest

= 1240 − 250 + 10 − 5 +

= 1010 crore

  Is there an error in this question or solution?
Solution Calculate the 'National Income' and 'Private Income' : Net Factor Income to Abroad National Debt Interest Wages and Salaries Current Transfers from Government Undistributed Profit Concept: Concept of National Income.
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