Expenditure on free services provided by the government is a part of national income  True/False

Q: Question 6 What must be added to the domestic factor income to avail national income?

A: National income is defined as the total market value of final goods and services produced by the…

Q: The Gross domestic product at market price is 414 million and the net factor income from abroad is…

A: Generally in the given question, The gross Domestic product at market price is valued at = 414…

Q: Which of the following is included in personalincome but not in national income?a. Compensation for…

A: Personal Income and National Income varies certainly. National Income includes all the factor…

Q: Nominal GDP is the real GDP divided by the population in a given fiscal or calendar year. Answer:…

A: Basics:- Nominal GDP is the current value of all the goods and services produced by country in a…

Q: The product approach of national income accounting measures the income received by firm owners. the…

A: The value of products and services generated by a country throughout a financial year is referred to…

Q: $2850 Expenditures for consumer goods and services 250 Exports 810 Government purchases of goods and…

A:

Q: Corporate profits account for the largest portion of U.S. national income. True False

A: It is the total combined profit earned by corporations.

Q: What are the main precautions needed to be taken while calculating the national income?

A: According to the given question National income is considered as the income which is considered as…

Q: This refers to the current income earned from all sources of private sector consisting of private…

A: Income refers to the money that an individual or a business receives, usually in exchange for…

Q: . How will you treat the following which estimating national income of India? Give reasons. 1.…

A: Answer according to the question we will do it as follows- 1)Dividend received by an Indian from his…

Q: National income is $29,000 and net factor income from abroad is $16,000 Calculate NDPFC

A: * SOLUTION :-  * Given that National income (NNPfc) = $29000 Net factor income from abroad = $16000…

Q: Calculate national income

A: The value of products and services generated by a country throughout a fiscal year is referred to as…

Q: Which of the following goods would be included in the calculation c gross domestic product? Steel…

A: Gross domestic product (GDP) measures the market value of final goods and services produced by an…

Q: relationship between the Balance on Goods and Services and Net Primary Income Balance.

A: Balance on goods and services refers to account which has details regarding the value of exported…

Q: Find the national income

A: Given:- Sr.No  Particle  Rs Crores i. Wages and Salaries 1,000 ii. Net current transfers to…

Q: What is the largest measure of national income?

A: National income refers to the total value of all the goods and services produced and sold within the…

Q: what are the different concepts of national income

A: There are various concepts of National Income GDP GNP NNP NI PI DI and PCI

Q: A discussion for National Income Determination.

A: As per Keynesian view, national income basically comprises of two determinants: Aggregate demand…

Q: Discuss two uses of National Income Statistics.

A: The national income statistics is used by a country to gather data and aggregate economic activity…

Q: What relevant aspects of the economy are not reflected in the national income accounting system?

A: National income accounting is a record-keeping system that records the economic activities of a…

Q: National income is always greater than domestic income True/ False

A: According to the given question The definition of national income usually tells about two important…

Q: List five limitations of GDP as a measurement of social welfare.

A: GDP or Gross Domestic Product is the total accounted value of all the goods and services produced in…

Q: The value of net factor income from abroad is $900 million and the value of national income is $5000…

A: Given: Net factor income from abroad=$900 million National income=$5000 million

Q: If National income is $3250 million and NDPFC is $2500 million Find net factor income from abroad

A: According to the above mentioned question, the values are:- National Income = $3250 million NDPFC =…

Q: The cost goods and services produced at home a.    and most goods and services produced illegally…

A: GDP is defined as the total production of all goods and services within territory of the country in…

Q: Q-1(B). Discuss the concept of national income. And explain how to measure National income with…

A: National income is defined as the money value of all final goods and service produced within the…

Q: A GDP deflator less than 1 indicates that an economy has experienced:

A: GDP Deflator=Nominal GDPReal GDP=P×QPb×Q=PPb GDP deflator shows the changes in the price level. So…

Q: What is Gross National Income and give examples.

A: The national income accounting is a system of book keeping used by the government just like a…

Q: Refer to the accompanying national Income data for the economy. All figures are in billions of…

A: Gross Domestic Product is defined as the final value of all goods and services produced in an…

Q: What items are excluded from national income statistics which would be important to take account of…

A: GDP measures the monetary value of all the goods and services produced in a country, that is the…

Q: f National income is given to be as $22,000 and net factor income from abroad is $19,000 Calculate…

A: here we calculate the NDPfc by using the given information so the calculation of the following by…

Q: Find National Income given:- NDPFC = $3300 million Net factor income from abroad = $1400 million

A: The data presented in the question above is:- NDPFC = $3300 million   Net factor income from abroad…

Q: GDP accounts for all production, even production that does not occur in the context of a market…

A: Gross domestic product is the value of final goods and services produced in the economy within a…

Q: GNP equalk GDP income earned domestically by foreigners income that nationals earn abroad. minus;…

A: The measure that depicts the value of goods and services being produced in an economy during a…

Q: If National income is $1300 million, net factor income from abroad is $500 million Find the value…

A: The information given to us is as follows:- National Income of the country = $1300 million Net…

Q: If the nominal GDP was $350 Billion but the real GDP is $2.2 Trillion. Select all that apply 3…

A: GDP measures how much a country is producing within its boundary in a financial year. The GDP has…

Q: Describe marilyn waring's assessment of gross domestic product as a measure of economic activity

A: Solution:- She has been outspoken in her criticism of the idea of gross domestic product (GDP), the…

Q: Difference between national income and national wealth.

A: National income and national wealth are two different aspects.

Q: National income is calculated

A: Correct option is (3).

Q: Calculate: 1- GDP 2- GNP 3- NNP

A: Since you have asked multiple sub-part questions, we will answer only the first three of them for…

Q: (i) (ii) (iii) The number of persons employed. The number of persons unemployed. The labour force.

A: Answer in step 2. Note - please post remaining part separately  Thankyou

Q: Gross Domestic Product (GDP) is a flow concept, measures recorded economic activity, is a…

A: GDP is defined as the total production of all goods and services within territory of the country in…

Q: The value of national income is $3100 million and the value of net factor income from abroad is $600…

A: According to the above given question, the information is:- National Income = $3100 million Net…

Q: a. Nominal GDP for all the years

A: Note: We will answer the first question as the exact one was not specified. Please resubmit a new…

Q: Distinguish between Gross Domestic Product (GDP) and Gross National Product (GNP). What are the…

A: National Income at Current Price: The commodities produced in a country during a particular period…

Q: In what ways are national income statistics useful?

A: The national income accounting refers to a bookkeeping system used by the government of a country to…

Q: What are the five components of national income?

A: The value of products and services generated by a country over the course of a fiscal year is…