NextQ58

(i) On the basis of the following data, estimate the value of Net Domestic Product (NDP_FC) : (ii) “Disposition phase of circular flow of income involves flow of factor income from firms to households.” Justify the statement giving valid reason. (i) Suppose there are only three firms in an imaginary economy, viz. X, Y and Z. During a year, the following transactions took place in the economy : (I) Firm X sold goods worth Rs. 20,000 to Firm Y and Rs. 12,000 to Firm Z. (II) Firm Y sold goods worth Rs. 11,000 to Firm X and Rs. 35,000 to Firm Z. (III) Firm Z sold goods worth Rs. 57,000 to households for final consumption. On the basis of the given transactions, calculate the value of Gross Domestic Product at Market Price (GDP_MP) in the economy. (ii) Discuss the likely impact of construction of 20 new hospitals in a country on the Gross Domestic Product (GDP) and Welfare in the economy.

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Question 57

Explain any two precautions pertaining to the Value Added Method of Estimation of National Income in a country. On the basis of the following hypothetical data : (in Rs. crore) Calculate the percentage change in Real Gross Domestic Product (GDP) in the year 2022 – 23 using 2020 – 21 as the base year.

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