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Economics · 2024 · 3 marks
National Income AccountingCircular Flow of Income and Methods of Calculating National Income3 marksApplyshort answer
CBSE 2024 · Region 2 · Set 1 · Q12
On the basis of the data given below, estimate the value of Gross National Product at Factor Cost (GNP_FC ): S.No. Items Amount (in ₹ crore) (i)…
On the basis of the data given below, estimate the value of Gross National Product at Factor Cost (GNP$\displaystyle _{FC}$) :
| S.No. | Items | Amount (in ₹ crore) |
| (i) | Wages and Salaries | $\displaystyle 2,000$ |
| (ii) | Rent and Interest | $\displaystyle 700$ |
| (iii) | Corporate Tax | $\displaystyle 500$ |
| (iv) | Undistributed Profit | $\displaystyle 300$ |
| (v) | Consumption of Fixed Capital | $\displaystyle 200$ |
| (vi) | Dividend | $\displaystyle 150$ |
| (vii) | Net factor income from abroad | (–) $\displaystyle 50$ |
Marking-scheme solution
Gross National Product at Factor Cost (GNP$\displaystyle _{FC}$) = (i) + (ii) + (iii) + (iv) + (vi) + (v) + (vii)= $\displaystyle 2,000$ + $\displaystyle 700$ + $\displaystyle 500$ + $\displaystyle 300$ + $\displaystyle 150$ + $\displaystyle 200$ + (-$\displaystyle 50$)= ₹ $\displaystyle 3800$ crore
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CBSE Class 12 Economics past-paper question from the 2024 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.