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Question
Study the following table, figure, passage and answer the question given below it.
| Components of GNP for the year 2018 |
In crores |
| Consumption | 200 |
| Investment | 300 |
| Govt.Expenditure | 400 |
| Net export | - 100 |
| Net receipts | - 50 |
| Depreciation | 100 |
A. Complete the formula
GNP = C + `square` + G + (X - M) + `square` (1m)
B. Calculate Gross National Product & Net National Product from the above data. (3m)
Answer in Brief
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Solution
A. Complete the formula.
GNP = C + I + G + (X - M) + (R - P)
B.
Gross National Product (GNP) = C + I + G + (X - M) + (R - P)
= 200 + 300 + 400 + (- 100) + (- 50)
= 900 – 100 – 50
= 750
Net National Product (NNP) = GNP – Depreciation
= 750 – 100
= 650
Gross National Product (GNP) is ₹ 750 crores and Net National Product (NNP) is ₹ 650 crores.
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