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Calculate Gross National Product at Mark...

Calculate Gross National Product at Market prices by (a) Expenditure method, and (b) Income method.
(i) Compensation of employees 100
(ii) Private final consumption expenditure 200
(iii) Rent 20
(iv) Government final consumption expenditure 50
(V) Profits 10
(vi) Interest 10
(vii) Gross domestic capital formation 60
(viii) Net imports 10
(ix) Consumption of fixed capital 20
(x) Net indirect tax 30 ,brgt (xi) Net factor income from abroad (-)20
(xii) Change in stocks 10
(xiii) Mixed income 110

Text Solution

Verified by Experts

Expenditure method
`GNP_(mp)=ii=iv+vii-viii+xi`
`=200+50+60-10+(-20)`
`=rs 280` crore.
Income Method
`GNP_(mp)=i+iii+vi+v+xioii+xi+ix+x`
`=100+20+10+10+100+(-20)+20+30`
=rs 280 crore.
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