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Calculate GNP at FC:
(i) Net domestic fixed capital formation350 (ii) Closing stock100 (iii) Government final consumption expenditure200 (iv) Net indirect taxes40 (v) Opening stock60 (vi) Consumption of fixed capital50 (vii) Net exports(-)10 (viii) Private final consumption expenditure1,500 (XI) Imports20 (x) Net factor income from abroad(-) 30?
(i) Net domestic fixed capital formation350 (ii) Closing stock100 (iii) Government final consumption expenditure200 (iv) Net indirect taxes40 (v) Opening stock60 (vi) Consumption of fixed capital50 (vii) Net exports(-)10 (viii) Private final consumption expenditure1,500 (XI) Imports20 (x) Net factor income from abroad(-) 30?
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Calculate GNP at FC:(i) Net domestic fixed capital formation350 (ii) C...
To calculate Gross National Product (GNP) at Factor Cost, we will follow the formula and consider the components provided. GNP can be computed using the following formula:
Total Output = Private Final Consumption Expenditure + Government Final Consumption Expenditure + Net Exports + Net Domestic Fixed Capital Formation + Change in Stocks
### Step 1: Calculate Change in Stocks
- **Change in Stocks** = Closing Stock - Opening Stock
- Change in Stocks = 100 - 60 = 40
### Step 2: Compute Total Output
- **Private Final Consumption Expenditure** = 1,500
- **Government Final Consumption Expenditure** = 200
- **Net Exports** = Exports - Imports = (-10)
- **Net Domestic Fixed Capital Formation** = 350
- **Change in Stocks** = 40
#### Plugging in the values:
Total Output = 1,500 + 200 + (-10) + 350 + 40
- **Total Output = 1,500 + 200 - 10 + 350 + 40 = 2,080**
### Step 3: Adjust for Net Factor Income from Abroad
- **Net Factor Income from Abroad** = -30
### Step 4: Calculate GNP
- **GNP = Total Output + Net Factor Income from Abroad**
- **GNP = 2,080 + (-30) = 2,050**
### Final GNP Result
- **GNP at Factor Cost = 2,050**
This calculated GNP reflects the total economic output produced by the residents of a country, factoring in domestic production and net income received from abroad.
Total Output = Private Final Consumption Expenditure + Government Final Consumption Expenditure + Net Exports + Net Domestic Fixed Capital Formation + Change in Stocks
### Step 1: Calculate Change in Stocks
- **Change in Stocks** = Closing Stock - Opening Stock
- Change in Stocks = 100 - 60 = 40
### Step 2: Compute Total Output
- **Private Final Consumption Expenditure** = 1,500
- **Government Final Consumption Expenditure** = 200
- **Net Exports** = Exports - Imports = (-10)
- **Net Domestic Fixed Capital Formation** = 350
- **Change in Stocks** = 40
#### Plugging in the values:
Total Output = 1,500 + 200 + (-10) + 350 + 40
- **Total Output = 1,500 + 200 - 10 + 350 + 40 = 2,080**
### Step 3: Adjust for Net Factor Income from Abroad
- **Net Factor Income from Abroad** = -30
### Step 4: Calculate GNP
- **GNP = Total Output + Net Factor Income from Abroad**
- **GNP = 2,080 + (-30) = 2,050**
### Final GNP Result
- **GNP at Factor Cost = 2,050**
This calculated GNP reflects the total economic output produced by the residents of a country, factoring in domestic production and net income received from abroad.
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Calculate GNP at FC:(i) Net domestic fixed capital formation350 (ii) Closing stock100 (iii) Government final consumption expenditure200 (iv) Net indirect taxes40 (v) Opening stock60 (vi) Consumption of fixed capital50 (vii) Net exports(-)10 (viii) Private final consumption expenditure1,500 (XI) Imports20 (x) Net factor income from abroad(-) 30?
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Calculate GNP at FC:(i) Net domestic fixed capital formation350 (ii) Closing stock100 (iii) Government final consumption expenditure200 (iv) Net indirect taxes40 (v) Opening stock60 (vi) Consumption of fixed capital50 (vii) Net exports(-)10 (viii) Private final consumption expenditure1,500 (XI) Imports20 (x) Net factor income from abroad(-) 30? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Calculate GNP at FC:(i) Net domestic fixed capital formation350 (ii) Closing stock100 (iii) Government final consumption expenditure200 (iv) Net indirect taxes40 (v) Opening stock60 (vi) Consumption of fixed capital50 (vii) Net exports(-)10 (viii) Private final consumption expenditure1,500 (XI) Imports20 (x) Net factor income from abroad(-) 30? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Calculate GNP at FC:(i) Net domestic fixed capital formation350 (ii) Closing stock100 (iii) Government final consumption expenditure200 (iv) Net indirect taxes40 (v) Opening stock60 (vi) Consumption of fixed capital50 (vii) Net exports(-)10 (viii) Private final consumption expenditure1,500 (XI) Imports20 (x) Net factor income from abroad(-) 30?.
Calculate GNP at FC:(i) Net domestic fixed capital formation350 (ii) Closing stock100 (iii) Government final consumption expenditure200 (iv) Net indirect taxes40 (v) Opening stock60 (vi) Consumption of fixed capital50 (vii) Net exports(-)10 (viii) Private final consumption expenditure1,500 (XI) Imports20 (x) Net factor income from abroad(-) 30? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Calculate GNP at FC:(i) Net domestic fixed capital formation350 (ii) Closing stock100 (iii) Government final consumption expenditure200 (iv) Net indirect taxes40 (v) Opening stock60 (vi) Consumption of fixed capital50 (vii) Net exports(-)10 (viii) Private final consumption expenditure1,500 (XI) Imports20 (x) Net factor income from abroad(-) 30? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Calculate GNP at FC:(i) Net domestic fixed capital formation350 (ii) Closing stock100 (iii) Government final consumption expenditure200 (iv) Net indirect taxes40 (v) Opening stock60 (vi) Consumption of fixed capital50 (vii) Net exports(-)10 (viii) Private final consumption expenditure1,500 (XI) Imports20 (x) Net factor income from abroad(-) 30?.
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