NextQ62

(i) Explain the likely impact of construction of 100 new super speciality hospitals in a nation on Gross Domestic Product (GDP) and welfare in the economy. (ii) Suppose, there are only three firms in a hypothetical economy, viz. A, B and C. During a given period of time, the following transactions were undertaken by them : (I) Firm A sold goods worth Rs. 2,000 to Firm B and Rs. 1,200 to Firm C. (II) Firm B sold goods worth Rs. 1,100 to Firm A and Rs. 3,500 to Firm C. (III) Firm C sold to households for final consumption, goods worth Rs. 5,700. Estimate the value of Gross Domestic Product at Factor Cost (GDP_FC), assuming the value of Net Indirect Taxes to be Rs. 240. (i) On the basis of the given data, estimate the value of Net Domestic Product at Factor Cost (NDP_FC) : (ii) "All consumption goods are durable in nature." Defend or refute the given statement with a valid argument.

Nominal vs. Real GDP and Related ConceptsStudy Simplify SpecialPYQ3SQ
Question 61

On the basis of the following hypothetical data, calculate the percentage change in Real Gross Domestic Product (GDP) in the year 2022 – 23, using 2020 – 21 as the base year. (All figures in Rs. crore) State the steps pertaining to the estimation of National Income, under the Expenditure Method.

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