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    tyagi_rajat8918
    1. The personal savings in the economy is 1,450 MUC based on the calculations of personal income, disposable income, and consumption expenditure from the national income accounts. 2. The personal tax payments are Rs. 406 Crore based on calculating personal income from the national income accounts data and subtracting it from personal disposable income. 3. The factor income received from abroad is 700 MUC based on calculating the net factor income earned abroad from the national income accounts data as 500 + 200.

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    1. The personal savings in the economy is 1,450 MUC based on the calculations of personal income, disposable income, and consumption expenditure from the national income accounts. 2. The personal tax payments are Rs. 406 Crore based on calculating personal income from the national income accounts data and subtracting it from personal disposable income. 3. The factor income received from abroad is 700 MUC based on calculating the net factor income earned abroad from the national income accounts data as 500 + 200.

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    1. The personal savings in the economy is 1,450 MUC based on the calculations of personal income, disposable income, and consumption expenditure from the national income accounts. 2. The personal tax payments are Rs. 406 Crore based on calculating personal income from the national income accounts data and subtracting it from personal disposable income. 3. The factor income received from abroad is 700 MUC based on calculating the net factor income earned abroad from the national income accounts data as 500 + 200.

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    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    67 views4 pages

    Questions NI

    Uploaded by

    tyagi_rajat8918
    1. The personal savings in the economy is 1,450 MUC based on the calculations of personal income, disposable income, and consumption expenditure from the national income accounts. 2. The personal tax payments are Rs. 406 Crore based on calculating personal income from the national income accounts data and subtracting it from personal disposable income. 3. The factor income received from abroad is 700 MUC based on calculating the net factor income earned abroad from the national income accounts data as 500 + 200.

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    of 4

    1.

    The following information is extracted from the National Income Accounts of an economy:
    Particulars Million Units of
    Currency (MUC)
    Depreciation 590
    Government expenditure 2,970
    Corporate taxes 720
    Gross domestic investment 3,195
    Transfer payments 695
    Personal taxes 2,025
    Net income earned from abroad 110
    Retained earnings 1,500
    Consumption expenditure 20,000
    If the national income is 25,000 MUC, the personal savings in the economy is
    (a) 1,040 MUC (b) 420 MUC (c) 1,450MUC (d) 3,230 MUC (e) 4,440 MUC.

    2. The following data is taken from National Income Accounts of a country:


    Particulars Rs. (Crore)
    GNP at market prices 3,400
    Transfer payments 484
    Indirect taxes 346
    Consumption of capital 380
    Undistributed corporate profits 56
    Corporate tax 150
    Subsidies 40
    Personal disposable income 2,586
    Personal tax payments are
    (a) Rs.786 Crore (b) Rs.712 Crore (c) Rs.612 Crore
    (d) Rs.556 Crore (e) Rs.406 Crore.
    3. The following information is extracted from the National Income Accounts of an economy.
    Particulars MUC
    NDP at market prices 20,000
    NNP at factor cost 16,800
    Gross domestic investment 3,200
    Corporate profits (profit before tax) 3,000
    Subsidies 400
    Net domestic investment 2,600
    Corporate profit tax 1,400
    Personal tax payments 1,400
    Indirect taxes 3,800
    Factor income paid abroad 500
    What is the factor income received from abroad?
    (a) 300 MUC (b) 300 MUC (c) 700 MUC (d) 700 MUC
    (e) 400 MUC.

    4. The following is the information from national accounts of an economy:


    Particulars MUC
    Direct taxes 7,200
    Indirect taxes 34,200
    Factor income paid abroad 36,000
    Factor income received from abroad 27,000
    Depreciation 36,000
    Surplus 3,150
    Subsidies 18,000
    National income 1,44,000
    The GDP at market prices is
    (a) 74,400 MUC (b) 90,600 MUC (c) 2,05,200 MUC
    (d) 1,57,050 MUC (e) 1,36,800 MUC.

    5. The following information is given from the national accounts of a country for the year 2002-
    03.
    Particulars MUC
    Factor income earned within domestic territory(NDP-FC) 13,000
    Gross domestic fixed capital formation 1,200
    Net domestic fixed capital formation 800
    GNP at market prices 17,000
    Indirect taxes 600
    Subsidies 200
    The net factor income from abroad for the year 2002-03 is
    (a) 3,000MUC (b) 2,600 MUC (c) 3,200 MUC (d) 3,400 MUC (e)2,200 MUC.
    6.

    Year Nominal GNP GNP Deflator Real GNP


    2001-02 2500 100 2500/100
    2002-03 3200 129.50 3200/129.5
    2003-04 4250 135 4250/135

    1. Answer :
    Reason : Personal income = National income (corporate taxes + retained earnings) + Transfer
    payments =25000 (720 + 1500) + 695 = 23475.
    Personal disposable income = personal income personal taxes = 23475 2025 =
    21450
    Personal savings in the economy = Personal disposable income Consumption
    expenditure
    = 21,450 20,000 = 1,450 MUC.
    2. Answer :
    Reason : Personal Income = National Income Undistributed corporate profit corporate tax +
    Transfer payments
    National Income = GNP at market price Depreciation Indirect taxes + Subsidies
    = 3,400 380 346 + 40
    = 2,714
    Personal Income = 2,714 56 150 + 484
    = Rs.2,992 cr
    Personal tax payments = Personal Income Personal disposable income
    = 2992 2586 = Rs.406cr.
    3. Answer :
    Reason : NFIA = NNPMP NDPMP
    NNPMP = NNPFC + Indirect Taxes Subsidies = 16800 + 3800 400 = 20200
    Thus, NFIA = 20200 20000 = 200MUC.
    Factor income received from abroad = Factor income paid abroad + net factor income
    earned abroad
    = 500 + 200 = 700MUC.

    4. Answer : (c)
    Reason : National income = NNP at factor cost
    NNP at factor cost = GDP at market price Indirect taxes + subsidies + NFIA
    Depreciation
    Or, GDP at market price = NNP at factor cost + Indirect taxes subsidies - NFIA +
    Depreciation
    = 144000 + 34200 18000 ( 9000) + 36000 = 205200 MUC.
    Where NFIA = (Factor income received from abroad Factor income paid abroad)
    =
    (27000 36000) = 9000 MUC
    5. Answer :
    Reason : NNP at market price = GNP at market prices Depreciation
    = 17,000 (1,200 800) = 16600
    NNP at factor cost = NNP at market prices Indirect taxes + subsidies
    = 16600 600+ 200
    = 16200
    Net factor income from abroad =NNP at factor costNDP at factor cost (Factor income
    earned with in domestic territory)
    = 16200 13000 = 3,200MUC.

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