Q.1 Calculate GNP at MP by (a) income method, and (b) expenditure method.

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1 Q.1 Calculate GNP at MP by (a) income method, and (b) expenditure method. (Rs. in crores) (i) Net exports 10 (ii) Rent 20 (iii) Private final consumption expenditure 400 (iv) Interest 30 (v) Dividends 45 (vi) Undistributed profits 5 (vii) Corporate taxes 10 (viii) Government final consumption expenditure 100 (ix) Net domestic capital formation 50 (x) Compensation of employees 400 (xi) Consumption of fixed capital 10 (xii) Net indirect taxes 50 (xiii) Net factor income from abroad -10 (a) GNP at MP (Income method) = (-10) = 560 crores (b) NNP at MP (Expenditure method) = (-10) = 560 crores Q.2 Calculate GNP at FC from the following data by (a) income method, and expenditure method. (Rs. in crores) (i) Wages and salaries 800 (ii) Mixed income of self-employed 160 (iii) Operating surplus 600 (iv) Undistributed Profit 150 (v) Gross capital formatfon. 330 (vi) Change in stocks 25 (vii) Net capital formation 300 (vi) Employers' contribution to social security schemes. 100 (ix) Net factor income from abroad (-) 20 (x) Exports 30 (xi) Imports 60 (xii) Private final consumption expenditure 1,000 (xiii) Government final consumption expenditure 450 (xiv) Net indirect taxes 60 (xv) Compensation of em plovees paid by the government 75 (a) GNP at FC (Income method) = (i) + (ii) + (iii) + (viii) + (ix) + Depreciation (v -vii) = (-20)+30=1670 crores VIVEK JAISWAL : ,

2 (b) GNP at PC (Expenditure method) = (v)+(ix)+(x)-(xi)+(xii)+(xiii)-(xiv) = 330+(-20) =1670crores Q.3 Calculate from the following data NNP at MP by (1) Income method, and (II) Expenditure method. (i) Compensation of employees paid by the government 40 (ii) Mixed income of sejf-emp1oyed 50 (iii) Wages and salaries 400 (iv) Employers' contribution to social security schemes 80 (v) Operating surplus 300 (hi) 'Indirect tax 30 (vii) Subsidies 10 (viii) Net capital formation 150 (ix) Net factor income from abroad -I 0 (x) Government final consumption expenditure 230 (xi) Priyate final consumption expenditure 500 (xii) Exports 15 (xiii) Import's 45 (xiv) Consumption of fixed capital 20 (xv) Profits 130 (i) NNP at MP (by income method) = (ii) + (iii) + (iv) +(v)+ (vi) - (vii)-(ix) (ix) = =840crores (ii) NNP at MP (by expenditure method) = (vii) - (ix) + (x) + (xi) + (xii) - (xiii) = =840crores Q.4 From the following data, calculate GNP at MP by (a) (b) expenditure method. (i) Government final consumption expenditure 250 (ii) Change "in stocks 65 (iii) Net domestic capilal formation 150 (iv) Interest 90 (v) Profit 210 (vi) Corporation tax 50 (vii) Rent 100 (viii) Factor income from abroad 20 (ix) Indirect taxes 55 (x) Factor income to abroad 40 (xi) Exports 60 (xii) Subsidies 25 (xiii) Imports 80 (xiv) Consumption of fixed capital 20 (xv) Private final consumption expenditure. 500 VIVEK JAISWAL : ,

3 (xvi) Cpmpensation of employees 450 (xvii) Value of rent free accommodation to employees 40 a) GNP at MP (by income method) = =880crores (b) GNP at MP (Expenditure method) = =880crores Q.5 From the following data, calculate GDP at FC by (a) Expenditure method and (b) Income method. (i) Personal consumption expenditure (ii) Wages and salaries 700 (iii) Employee's contribution to S. S Schemes 100 (iv) Gross business fixed investment 60 (v)profits 100 (vi) Gross residential construction investment 60 (vii) Government purchase of goods and services 200 (viii) Gross public investment ', 40 (ix).rent 50 (x) Inventory investmenti' 20 (xi) Exports 40 (xii)interest 50 (xiii) Imports 20 (xiv) Net factor income from abroad -10 (xv) Mixed income 100 (xvi) Depreciation 20 (xvii) Subsidies 10 (xviii) Indirect taxes 20 (a) GDP at'fc (Expendiure method) = (60 +' ) (40-20) + (10-20) = 1090 crores (b) GDP at FC (Income method) = = 1020 crores Q.6 From the following data, calculate national income (NNP at FC) by (i) income method, and (ii) expenditure method. (Rs. in crores) (i) Compensation of employees 1,200 (ii) Net factor income from abroad -20 (iii) Net indirect tax 120 (iv) Profit 800 (v)private final consumption expenditure 2,000 (vi) Net domestic capital formation 770 (vii) Consumption of fixed capital 130 (viii) Rent 400 VIVEK JAISWAL : ,

4 (ix) Interest 620 (x) Mixed income of self-employed 700 (xi) Net exports -30 (xu)government final consumption expenditure 1,100 a) NI (by income method) = 1, = 3,700 crores (b) NNP(by expenditure method) = (2, , ) = 3,700 crores Q.7 From the following data, calulate national income by (a) income method, and (b) expenditure method. (in crores) (i) Private final consumption expenditure 2,000 (ii) Net capital formation 400 (iii) change in stock 50 (iv) Compensation of.employees 1,900 (v) Rent 200 (vi) Interet 150 (vii) Operating surplus (viii) Net indirect taxes 400 (ix) Employees contribution to S. S. schemes 100 (x) Net exports (xi) Net factor income from abroad 720 (xii) Government final consumption expenditure 600 (xiii) Consumption of fixed capital 100 (a) National income (by income method) = 1, = 2,600 crores (b) National income (by expenditure method) = 2, (-20)-400 = 2,600 crores - 8. From the following data, calculate national income by (a) income method, and (b) expenditure method (in crores) (i) Interest 150 (ii) Rent 250 (iii) Government final consumption expenditure 600 (iv) Private final consumption expenditure 1200 (v) Profits 640 (vi) Compensation of employees 1000 (vii)net factor income to abroad 30 (viii) Net- indirect taxes 60 VIVEK JAISWAL : ,

5 (ix) Net exports -40 (x) Consumption of fixed capital. 50 (xi) Net domestic capital formation 340 a) National income (Income method) = = 2010crores (b) GDP. at MP (Expenditure method). = (-40) = 2150 crores National Income (NNP at FC).. = GDPatMP - (x) +(vii) -(viii). = (-30) - 60 = 2010 crorés. 9. Fromthe following data, calculate (ti) GDP at FC, and (b) Factor income to abroad.. (D 2010) ( in crore) (i) Compensation of employees 800 (ii) Profits 200 (iii) Dividends 50 (iv) GNP atmp 1400 (v) Rent 150 (vi) Interest 100 (vii) Gross domestic capital formation 300 (viii) Net fixed capital formation 200 (ix).change in stock 50 (x) Factor income from abroad 60 (xi) Net indirect taxes 120 (a)gdp at FC = NDP at FC + Depreciation = ( ) + ( ) = 1300 crore (b) Net factor income from abroad = GNP at MP - GDP at MP ( ) = - 20 Factor income to.abroad = Factor income from abroad - Net factor income from abroad 60-(-20) = 80 crore. 10. Calculate (a) GDP at MP, and (b) Factor income from abroad from the following data: (A 2010) (i) Profits 500 (ii) Exports 40 (iii) Compensation of employees 1500 (iv) GNP atfc 2800 (v) Net current transfers, from rest of the world 90 (vi) Rent 300 (vii) Interest 400 (viii) Factor income to abroad 120 VIVEK JAISWAL : ,

6 (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) = = 2700 Depreciation = (xi) + (xii) - (x) = 700, = 100 GDP at MP = NDP at FC + Depreciation + NIT = = 3050 crore. (ii) NFIA = NNP at FC - NDP at FC = (GNP at FC - dep)- NDP at FC) = ( ) = 0 Factor income from abroad = NFl A+ Factor income to abroad =0+120 =l20crore. 11. Calculate national income by (a) expenditure method, and (b) by production method from the following data: (D 2010C) (Rs. in 1000 crores) (i) Gross value added at MP by primary sector 300 (ii) Private final consumption expenditure 750 (iii) Consumption of fixed capital '150 (iv) Net indirect taxes 120 (v) Gross value added at MP by secondary sector 200 (vi) Net domestic fixed capital formation 220 (vii) Change in stocks (viii) Gross value added at MP by tertiary sector 700 (ix) Net imports 50 (x) Government final consumption expenditure 150 (xi) Net factor income from abroad 20 (a)nnp at FC (Income method) = = 950 crore (b) NNP at FC (Expenditure method) = = 950 crore Q.12 Calculate 'Gross National Product at Market Price' from the following data: ( In lcrore) (i) Compensation of employees. 2,000 (ii)interest 500 (iii)rent 700 (iv)profits 800 (v) Employer's contribution to social security schemes 200 (vi)dividends 300 (vii)consumption of fixed capital 100 (viii)net indirect taxes 250 (ix) Net exports 70 VIVEK JAISWAL : ,

7 (x) Net factor income to abroad 150 (xi) Mixed income of self-employed 1,500 ( 5,700) Q.13 Calculate 'National Income' from the following data: (T in crore) (i) Net exports ( )300 (ii) Compensation of employees 6,000 (iii)rent. 400 (iv)dividend 200 (v) Consumption of fixed capital 300 (vi) Change in stock 50 (vii)profits 800 (viii) Net factor income to abroad (-) 80 (ix)net indirect taxes 600 (x)interest 500 7,780 Q.14 Calculate net value added at FC (Set I), NVA at MP (set II) and Gross value added at MP (Set III). Set I Set II Set III (i) Sales tax (ii) Consumption of fixed capital (iii) Closing Stock (iv) Corpotate tax (v) Opening stock (vi) Sales (vii) Purchase of raw material (viii) Subsidy Q.15 From the follwoing data calculate gross value added at FC. (i) Sales 70 (ii) Intermediate consumption 40 (iii) Opening Stock 15 (iv) Closing Stock 10 (v) Subsidies 5 (vi) Purchase of Raw material 25 (vii) Depreciation 15 (viii) Wages and Salaries Lakh VIVEK JAISWAL : ,

8 Q.16 From the follwoing data calculate net value added at FC. (i) Purchase of Raw material 30 (ii) Depreciation 12 (iii) Sales 200 (iv) Excise tax 20 (v) Opening Stock 15 (vi) Intermediate Consumption 48 (vii) Closing Stock Lakh Q.16 From the follwoing data calculate gross value added at FC. (i) Consumption of fixed capital 5 (ii) Sales 100 (iii) Subsidies 2 (iv) Closing Stock 10 (v) Purchase of Raw material 50 (vi) Opening Stock 15 (vii) Indirect taxes Lakh Q.17 From the follwoing data calculate gross value added at FC. (i) Sales 180 (ii) Rent 5 (iii) Subsidies 10 (iv) Change in Stock 15 (v) Purchase of Raw material 100 (vi) Profits Lakh Q.18 From the follwoing data calculate gross value added at FC. (i) Net Indirect taxes 20 (ii) Purchase of intermediate product 120 (iii) Purchase of machines 300 (iv) Sales 250 (v) Consumption of fixed capital 20 (vi) Change in Stock Lakh VIVEK JAISWAL : ,

9 Q.19 From the follwoing data calculate net value added at MP. (i) Depreciation 5 (ii) Sales 100 (iii) Opening Stock 20 (iv) Intermediate consumption 70 (v) Excise duty 10 (vi) Change in stock Lakh Q.20 From the following data calculate 'Gross Value Added at Factor Cost': (incrore) (i) Sales 8,000 (H) Change in stock 100 (iii)subsidies 200 (iv) Consumption of fixed capital 300 (v) Intermediate consumption 5,500 (vi)rent Q.22 Calculate 'Sales' from the following data: ( in:lakh). (i) Net value added at factor cost 560 (ii) Depreciation 60 (iii) Change in stock ( ) 30 (iv) Intermediate cost 1,000 (v) Exports 200 (vi) Indirect taxes Q.23 Calculate 'Sales' from the following data: (T in lakh)' (i) Intermediate costs 700: (ii) Consumption of fixed capital 80 (iii) Change in stpck ( )50 (iv) Subsidy 60 (v) Net value added at factor cost 1,300 (vi) Exports Q.24 Calculate 'Sales' from the following data: (T in Iakh). (i) Subsidies 200 VIVEK JAISWAL : ,

10 (ii) Opening stock 100 (iii)closing stock 600 (iv) Intermediate consumption 3,000 (v) Consumption of fixed capital 700 (vi)profit 750 (vii) Net value added at factor cost 2, Lakh Q.25 Find Net value added at factor cost. (i) Durable use product goods with life span of 10 years 10 (ii) Single use producer goods 5 (iii) Sales 20 (iv)unsold output produced during the year 2 (v) Taxes on production 1 15 Q.26 Find Net value added at market price (i) Fixed capital goods with life span of 5 years 15 (ii) Raw material 6 (iii) Sales 25 (iv)net change in stock -2 (v) Taxes on production 1 14 VIVEK JAISWAL : ,

National Income Accounting

National Income Accounting Notes: Net Investment = Gross Investment Deprecation Net Indirect tax= Indirect tax subsidy NFIA (Net factor Income from abroad) = Factor Income from Abroad Factor income paid