To find Gross value added, arrange the following in sequence :

(A) Import

(B) Export

(C) Domestic sales

(D) Domestic purchase of Raw material

(E) Change in inventories

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What is the nominal GDP in 2021?

Identify the correct statements from the following:

A. Fees to a mechanic paid by a firm is not included in the estimation of national income

B. Income tax paid by an individual is not included in national income

C. Interest paid by a garment manufacture on a loan taken from bank is included in national income

D. Payment of old age pension will not be included in national income as it is a transfer payment

E. Insurance premium paid by household to an insurance company is not included in the estimation of national income

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The value of the nominal GNP of an economy was Rs 5000 crores in a particular year. The value of GNP of that country during the same year, evaluated at the prices of same base year, was Rs 6000 crores. What is the value of the GNP deflator of the year.

The decision of an individual economic agent is the study of ...................... ?

Identify the concept which should be deducted from the value of gross investment in order to accommodate regular wear and tear of capital goods.

1. Investment.
2. Capital
3. Depreciation
4. Consumption goods

Identify the correct statements about the externalities as a limitation of GDP and welfare.

A. GDP as measured does not include external production of goods.

B. Inverse relationship between negative externality and welfare.

C. No relation between GDP and welfare.

D. Economic activities have both positive and negative externalities.

E. Producers are rewarded with profit for positive externalities

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