Sl No, Items, Values (In Lacs), 1, Government Spending, 7.5, 2, Consumption spending, 2.85, 3, Investment spending, 5.75, 4, Value of Exports, 1.8, 5, Value of Imports, 2.12, 6, Personal income, 1.2, 7, Disposable income, 1.0, 8, Depreciation, 0.2 Calculate the value of GDP_MP of an open economy from the given table values Option 1: 16.42 Lacs Option 2: 15.78 Lacs Option 3: 15.75 Lacs Option 4: 16.22 Lacs

Answer: 15.78 Lacs. Solution: For an open economy, GDP_MP = C + I + G + (X - M) = 2.85 + 5.75 + 7.5 + (1.8 - 2.12) = 16.10 - 0.32 = 15.78 lacs.

Macro

National Income

Easy

Calculate the value of $GDP_{MP}$ of an open economy from the given table values

16.42 Lacs

15.78 Lacs

15.75 Lacs

16.22 Lacs

✅ Correct Option: 2

For an open economy, $GDP_{MP} = C + I + G + (X - M) = 2.85 + 5.75 + 7.5 + (1.8 - 2.12) = 16.10 - 0.32 = 15.78$ lacs.

Question 46

Calculate the value of $GDP_{MP}$ of a closed economy from the given table values.

Question 48

Calculate the value of net exports

Question 49

Calculate the NDP at market price of the closed economy from the given table values.

Question 50

Calculate the amount of personal tax.