https://file.aiquickdraw.com/mathbot/file/1725527576695h1llek3j.jpg

The image is now displayed. Let's analyze the problem step by step.

The task requires you to calculate the following:
a) GDP by income method and expenditure method.
b) GDPfc (at factor cost) and GNPfc (Gross National Product at factor cost).
c) NNPfc (Net National Product at factor cost) and NNPmp (Net National Product at market prices).

We will use the provided data in crores of Rs to solve these questions. Here's a breakdown of the key values provided:

### Expenditure Method Formula for GDP:
\[ \text{GDP (Expenditure Method)} = C + I + G + (X - M) \]
Where:
- \( C \) = Private Final Consumption Expenditure (36432)
- \( I \) = Gross Fixed Capital Formation (13428) + Change in stock (538)
- \( G \) = Government's Final Consumption Expenditure (7682)
- \( X \) = Exports of Goods and Services (3542)
- \( M \) = Imports of Goods and Services (3682)

### Income Method Formula for GDP:
\[ \text{GDP (Income Method)} = Compensation of Employees + Mixed Income of Self-Employed + Operating Surplus + Depreciation (CCA) + Indirect Taxes - Subsidies \]
Where:
- Compensation of Employees (27628)
- Mixed Income of Self-Employed (12080)
- Operating Surplus (9892)
- Capital Consumption Allowances (6744)
- Indirect Taxes (NA, but usually implied)
- Subsidies (4844)

Let me calculate the GDP and other items next.Here are the calculated values based on the provided dataHere are the calculated values based on the provided 

1. **GDP by Expenditure Method**: ₹57,940 crores
2. **GDP by Income Method**: ₹51,500 crores
3. **GDP at Factor Cost (GDPfc)**: ₹51,500 crores
4. **Gross National Product at Factor Cost (GNPfc)**: ₹50,822 crores
5. **Net National Product at Factor Cost (NNPfc)**: ₹44,078 crores
6. **Net National Product at Market Prices (NNPmp)**: ₹51,196 crores

Would you like a detailed explanation of how these were derived or further breakdowns? Here are five related questions for you to explore:

1. How does the expenditure method differ from the income method in GDP calculation?
2. What is the significance of Net Factor Income from Abroad in GNP?
3. Why are subsidies subtracted in the income method for GDP?
4. What are the implications of depreciation (capital consumption allowances) in calculating NNP?
5. How do indirect taxes and subsidies influence GDP and NNP?

**Tip:** Always check if subsidies and indirect taxes are accounted for separately when calculating GDP via income method, as they affect the final outcome.

Consider the following data to calculate GDP by using income method and by expenditure method, GDPfc and GNPfc, NNPfc and NNPmp.

Solve a problem involving GDP calculation using the income and expenditure methods. The problem also covers the calculation of GDPfc, GNPfc, NNPfc, and NNPmp using the provided national income data.

Math Problem Statement

Solution

Ask a new question for Free

By Image

Math Problem Analysis

Mathematical Concepts

Formulas

Theorems

Suitable Grade Level

Related Recommendation