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32. From the following data, find Wages and Salaries':
Items
(Rs in crore)
Royalty
50
Rent
100
Interest
400
Net indirect taxes
70
NNP at Market Price
1700
Profit
300
Net factor income to abroad
-(20)
Consumption of fixed capital
120
Social security contribution by employers
60
Social security contribution by employees
40?
Items
(Rs in crore)
Royalty
50
Rent
100
Interest
400
Net indirect taxes
70
NNP at Market Price
1700
Profit
300
Net factor income to abroad
-(20)
Consumption of fixed capital
120
Social security contribution by employers
60
Social security contribution by employees
40?
Most Upvoted Answer
32. From the following data, find Wages and Salaries':Items(Rs in cror...
Calculation of Wages and Salaries:
- Royalty: 50 crore
- Rent: 100 crore
- Interest: 400 crore
- Net indirect taxes: 70 crore
- NNP at Market Price: 1700 crore
- Profit: 300 crore
- Net factor income to abroad: -20 crore
- Consumption of fixed capital: 120 crore
- Social security contribution by employers: 60 crore
- Social security contribution by employees: 40 crore
Explanation:
To calculate Wages and Salaries, we need to subtract all other components from the National Income.
NNP at Market Price is the total value of all goods and services produced in an economy within a specific period, which in this case is 1700 crore.
Net factor income to abroad is the difference between the income earned by foreigners from domestic resources and the income earned by residents from foreign resources. In this case, it is -20 crore, indicating that more income is going abroad than coming in.
Consumption of fixed capital represents the depreciation of fixed assets used in production, which is 120 crore in this scenario.
Social security contributions by both employers and employees amount to 60 crore and 40 crore respectively.
By subtracting all these components from the NNP at Market Price, we can find the value of Wages and Salaries in this economy.
- Royalty: 50 crore
- Rent: 100 crore
- Interest: 400 crore
- Net indirect taxes: 70 crore
- NNP at Market Price: 1700 crore
- Profit: 300 crore
- Net factor income to abroad: -20 crore
- Consumption of fixed capital: 120 crore
- Social security contribution by employers: 60 crore
- Social security contribution by employees: 40 crore
Explanation:
To calculate Wages and Salaries, we need to subtract all other components from the National Income.
NNP at Market Price is the total value of all goods and services produced in an economy within a specific period, which in this case is 1700 crore.
Net factor income to abroad is the difference between the income earned by foreigners from domestic resources and the income earned by residents from foreign resources. In this case, it is -20 crore, indicating that more income is going abroad than coming in.
Consumption of fixed capital represents the depreciation of fixed assets used in production, which is 120 crore in this scenario.
Social security contributions by both employers and employees amount to 60 crore and 40 crore respectively.
By subtracting all these components from the NNP at Market Price, we can find the value of Wages and Salaries in this economy.
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32. From the following data, find Wages and Salaries':Items(Rs in crore)Royalty50Rent100Interest400Net indirect taxes70NNP at Market Price1700Profit300Net factor income to abroad-(20)Consumption of fixed capital120Social security contribution by employers60Social security contribution by employees40?
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32. From the following data, find Wages and Salaries':Items(Rs in crore)Royalty50Rent100Interest400Net indirect taxes70NNP at Market Price1700Profit300Net factor income to abroad-(20)Consumption of fixed capital120Social security contribution by employers60Social security contribution by employees40? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about 32. From the following data, find Wages and Salaries':Items(Rs in crore)Royalty50Rent100Interest400Net indirect taxes70NNP at Market Price1700Profit300Net factor income to abroad-(20)Consumption of fixed capital120Social security contribution by employers60Social security contribution by employees40? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 32. From the following data, find Wages and Salaries':Items(Rs in crore)Royalty50Rent100Interest400Net indirect taxes70NNP at Market Price1700Profit300Net factor income to abroad-(20)Consumption of fixed capital120Social security contribution by employers60Social security contribution by employees40?.
32. From the following data, find Wages and Salaries':Items(Rs in crore)Royalty50Rent100Interest400Net indirect taxes70NNP at Market Price1700Profit300Net factor income to abroad-(20)Consumption of fixed capital120Social security contribution by employers60Social security contribution by employees40? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about 32. From the following data, find Wages and Salaries':Items(Rs in crore)Royalty50Rent100Interest400Net indirect taxes70NNP at Market Price1700Profit300Net factor income to abroad-(20)Consumption of fixed capital120Social security contribution by employers60Social security contribution by employees40? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 32. From the following data, find Wages and Salaries':Items(Rs in crore)Royalty50Rent100Interest400Net indirect taxes70NNP at Market Price1700Profit300Net factor income to abroad-(20)Consumption of fixed capital120Social security contribution by employers60Social security contribution by employees40?.
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