Q2) Define gross domestic capital formation. (1 mark)

Q3) Define subsistence production units. (1 mark)

Q4) If domestic factor income is Rs.1000 crores and net factor income from abroad is Rs.(-) 5 crores, how much will be national income. (1 mark)

Q5) Find GDP_fe from the following data :
                                                  (Rs. Crores)
(i) Value of output                                500
(ii) Consumption of fixed capital              20
(iii) Value of intermediate consumption  200
(iv) Net indirect taxes                            20 (2 marks)

Q6) Are exports of goods and services a part of domestic product? Give reasons in support of your answer. (2 marks)

Q7) How is final consumption expenditure of the government estimated?
(3 marks)

Q8) Why are the following not included in the estimation of national income: (3 marks)

Q9) How is income generated in the production process? (3 marks)

Q10) What is private income? How does it differ from personal income?
(3 marks)

Q11) Find operating surplus from the following data.
                                                      (Rs. in crores)
(i) Gross value added at factor cost                 100
(ii) Wage and salaries                                      30
(iii) Consumption of fixed capital                       10
(iv) Employers' contribution to social security      3
scheme
(v) Employees subscription to provident fund. (3 marks)

Q12) Explain the concept of 'mixed income of self employed'. Give suitable example. (3 marks)

Q13) Define capital goods. Give an example each of durable capital good and non-durable capital good. (3 marks)

Q14) Distinguish between product based and process based division of labour. (3 marks)

Q15) Which three types of enterprises are included in producer household sector? (3 marks)

Q16) Calculate national income by income and expenditure methods from the following data.

i. Compensation of employees ii. Imports iii. Mixed income of self employed iv. Gross fixed capital formation v. Private final consumption expenditure vi. Consumption of fixed capital vii. Net factor income form abroad viii. Indirect taxes ix. Change in stocks x. Subsidies xi. Operating surplus xii Exports xiii Government final consumption expenditure

(Rs. in crores) 250 20 50 120  550 10 20 100 20 20 350 10 60

Q17) Explain the value-added method of estimating national income.
(5 marks)

Q18) Explain the methodology followed in India for estimating national income originating in the agricultural sector. (5 marks)

Section B

Q19) Define windfall profits. (1 mark)

Q20) Define marginal revenue product. (1 mark)

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