NextQ54

(i) Suppose there are only three firms in an imaginary economy, viz. X, Y and Z. During a year, the following transactions took place in the economy : (I) Firm X sold goods worth Rs. 20,000 to Firm Y and Rs. 12,000 to Firm Z. (II) Firm Y sold goods worth Rs. 11,000 to Firm X and Rs. 35,000 to Firm Z. (III) Firm Z sold goods worth Rs. 57,000 to households for final consumption. On the basis of the given transactions, calculate the value of Gross Domestic Product at Market Price (GDP_MP) in the economy. (ii) Elaborate the likely impact of construction of two new Express Highways on the Gross Domestic Product (GDP) and Welfare in an economy. (i) On the basis of the following data, estimate the value of National Income (NNP_FC) : (ii) "All producer goods are essentially capital goods." Defend or refute the given statement, with the help of a suitable example.

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Question 53

Explain any two precautions pertaining to the Expenditure Method of estimation of National Income in a country. On the basis of the following hypothetical data : (in Rs. crore) Calculate the percentage change in Real Gross Domestic Product (GDP) in the year 2022 - 23 using 2020 - 21 as the base year.

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