Sandeep Garg Class 12 Macroeconomics Solutions Chapter 3 National Income and Related Aggregate is explained by the expert Economic teachers from the latest edition of Sandeep Garg Macroeconomics Class 12 textbook solutions.
We at CoolGyan’S provide Sandeep Garg Economics Class 12 Solutions to give comprehensive insight about the subject to the students. These insights help as a priceless benefit to students while completing their homework or while studying for their exams.
Sandeep Garg Solutions Class 12 – Chapter 3- Part B
Question 1
Calculate the domestic income or NDP at FC.
| Particulars | ₹ in crores |
| GNP at MP Subsidies Depreciation Net Factor income from abroad Indirect Tax | 6,000 200 100 400 300 |
Solution:
NDP at FC
= GNP at MP- Depreciation-Net Factor income from abroad- (Indirect tax-Subsidies)
= 6,000-100-400- (300-200)
= ₹ 5,400 crores
Question 2
Calculate GNP at MP
| Particulars | ₹ in crores |
| Domestic Income or NDP at FC Depreciation Indirect Taxes Net Factor income to abroad | 3,200 400 70 50 |
Solution:
GNP at MP
= NDP at FC + Depreciation – Net Factor income from abroad + Indirect tax
=3,200 + 400-50 + 70
= ₹3,620 crores
Question 3
Calculate national income or NNP at FC
| Particulars | ₹ in crores |
| GDP at MP Consumption of fixed capital Goods and services tax Factor income from abroad Subsidies Factor income to abroad | 5,500 300 120 150 70 250 |
Solution:
National Income or NNP at FC
= GDP at MP -M Consumption of fixed capital + (Factor income from abroad – factor income to abroad) – (Goods and Services tax – Subsidies)
=5,500 – 300 + (150-250) – (120-70)
= ₹ 5,050 crores
Explore link: Circular Flow of Income Solutions
Question 4
Define domestic income.
Ans: Domestic income is the net money value of all the final goods and services produced within the domestic territory of a country during a period of one year.
Question 5
When will the GDP of an economy be equal to the GNP?
Ans: GDP and GNP will be equal when the net factor income from abroad is zero
Question 6
In which type of economy will the domestic income be equal to the national income?
Ans: Closed economy
| Recommended links: |
| Important Questions for Class 12 Economics |
| Study Tips for Preparing Economics Exam |
| Economics Project for Class 12 |
The solutions are considered to be the best solutions for Sandeep Garg Macroeconomics Class 12 Solutions Chapter 3 National Income and Related Aggregate. Stay tuned for questions papers, sample papers, syllabus, and relevant notifications on our website.