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GNP(MP) of an imaginary economy is Rs. 1...

`GNP_(MP)` of an imaginary economy is Rs. 1,20,000 crore and its capital stock is worth Rs. 3,00,000 crore. If capital stock depreciation is @ `20%` per annum, indirect taxes amount to Rs 30,000 crore and subsidies are Rs. 15,000 crore. What is national income ?

Text Solution

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National income
`{:(**" "NIT=" Indirect taxes - Subsidies"),(**" Dep.=20% of 3,00,000"):}`
`N NP_(FC)=GNP_(MP)-"Dep"^(**)-NIT^(**)`
`=1,20,000-60,000-{30,000-15,000}`
`N NP_(FC)= Rs 45,000` core
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