NextQ64

(i) Explain the likely impact of construction of 20 new flyovers 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. 200. (i) "All consumption goods are durable in nature." Defend or refute the given statement with a valid argument. (ii) On the basis of the given data, estimate the value of National Income (NNP_FC) :

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Question 63

State the steps pertaining to the estimation of National Income, under the Value Added Method. 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)

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