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From the following data, calcualte the G...

From the following data, calcualte the Groos National Product at market price by (i) income method and (ii) expenditure method:
(i) Mixed income of self-emplyed 400
(ii) Compensation of employees 500
(iii) Private final consumption expenditure 900
(iv) Net factor income from abroad (-)20
(v) Net indirect tax 100
(vi) Consumption of fixed capital 120
(vii) Net domestic capital formation 280
(viii) Net exports 350
(x) Rent 100
(xi) Interest 150
(xii) Government final consumption expenditure 450.

Text Solution

Verified by Experts

The correct Answer is:
(i) `GNP_(mp)`
(Income method)`=ii+x+xi+_ix+i+iv+vi+v`
`=500+100+150+350+400+(-20)+120+100`
=rs 700 crore.
`GNP_(MP)`
(Exp. Method)`=iii+xii+(vii+vi)+viii+iv`
`=900+450+(280+120)+(-30)+(-20)`
=rs 1700 crore.
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