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NextQ62

(i) "If in a locality a new park is developed by the Municipal Corporation, it will have some external effects." State one example of each type of externality with valid explanation. (ii) Explain the components of `Net Factor Income from abroad'. Calculate Net Domestic Product at Market Price (NDP_MP) and Gross National Product at Market Price (GNP_MP) from the following data :

Introduction to National Income AggregatesStudy Simplify SpecialPYQ6LQ
Question 61

Calculate the values of Operating Surplus and Gross Domestic Product at Market Price (GDP_MP) from the following data : (i) Distinguish between Real Gross Domestic Product and Nominal Gross Domestic Product using a numerical example. (ii) Define the concept of 'Externalities'.

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