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Economics · 2023 · 3 marks
CBSE 2023 · Region 4 · Set 2 · Q12
Suppose the Gross Domestic Product (GDP) at market price of a country in a particular year was ₹ 1,200 crore. Net Factor Income from Abroad was ₹ 120…
Suppose the Gross Domestic Product (GDP) at market price of a country in a particular year was ₹ $\displaystyle 1,200$ crore. Net Factor Income from Abroad was ₹ $\displaystyle 120$ crore. The value of Net Indirect Taxes was ₹ $\displaystyle 130$ crore and the National Income was ₹ $\displaystyle 950$ crore. Calculate the value of depreciation for the economy.
Marking-scheme solution
National Income ($\displaystyle NNP_{FC}$) = Gross Domestic Product at Market Price ($\displaystyle GDP_{MP}$) − Depreciation + Net factor income from abroad − Net Indirect Taxes$\displaystyle 950$ = $\displaystyle 1,200$ − Depreciation + $\displaystyle 120$ − $\displaystyle 130$Depreciation = $\displaystyle 1,200$ + $\displaystyle 120$ − $\displaystyle 130$ − $\displaystyle 950$Depreciation = ₹ $\displaystyle 240$ crore
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CBSE Class 12 Economics past-paper question from the 2023 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.