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Quantity of tea produced=2000 , price of tea per kg =100 quantity of coffee produced =1500. price of coffee per kg=300. value of other agricultural products=6 lakh value of industrial product=8 lakh value of intermediate imputs =3 lakh depreciation=20000 NIT =1 lakh
net factor income to abroad=50000 find GNPmp and GNPfc?
net factor income to abroad=50000 find GNPmp and GNPfc?
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Quantity of tea produced=2000 , price of tea per kg =100 quantity of c...
Understanding GNPmp and GNPfc
Gross National Product (GNP) can be calculated using two approaches: GNP at market prices (GNPmp) and GNP at factor cost (GNPfc).
Calculating GNPmp
To find GNPmp, we sum the total output produced in the economy, including the value of all goods and services.
- Value of tea produced: 2000 kg * 100 = 200,000
- Value of coffee produced: 1500 kg * 300 = 450,000
- Value of other agricultural products = 600,000
- Value of industrial products = 800,000
Now, we can calculate the sum:
- Total Output = Value of tea + Value of coffee + Value of other agricultural products + Value of industrial products
- Total Output = 200,000 + 450,000 + 600,000 + 800,000 = 2,050,000
Next, we subtract the value of intermediate inputs to find GNPmp:
- GNPmp = Total Output - Intermediate Inputs
- GNPmp = 2,050,000 - 300,000 = 1,750,000
Calculating GNPfc
To calculate GNPfc, we need to adjust GNPmp by adding depreciation and subtracting net factor income to abroad:
- GNPfc = GNPmp + Depreciation - Net Factor Income to Abroad
- GNPfc = 1,750,000 + 20,000 - 50,000
- GNPfc = 1,750,000 - 30,000 = 1,720,000
Summary of Results
- GNPmp = 1,750,000
- GNPfc = 1,720,000
These calculations provide a clear picture of the national income from both the market price and factor cost perspectives.
Gross National Product (GNP) can be calculated using two approaches: GNP at market prices (GNPmp) and GNP at factor cost (GNPfc).
Calculating GNPmp
To find GNPmp, we sum the total output produced in the economy, including the value of all goods and services.
- Value of tea produced: 2000 kg * 100 = 200,000
- Value of coffee produced: 1500 kg * 300 = 450,000
- Value of other agricultural products = 600,000
- Value of industrial products = 800,000
Now, we can calculate the sum:
- Total Output = Value of tea + Value of coffee + Value of other agricultural products + Value of industrial products
- Total Output = 200,000 + 450,000 + 600,000 + 800,000 = 2,050,000
Next, we subtract the value of intermediate inputs to find GNPmp:
- GNPmp = Total Output - Intermediate Inputs
- GNPmp = 2,050,000 - 300,000 = 1,750,000
Calculating GNPfc
To calculate GNPfc, we need to adjust GNPmp by adding depreciation and subtracting net factor income to abroad:
- GNPfc = GNPmp + Depreciation - Net Factor Income to Abroad
- GNPfc = 1,750,000 + 20,000 - 50,000
- GNPfc = 1,750,000 - 30,000 = 1,720,000
Summary of Results
- GNPmp = 1,750,000
- GNPfc = 1,720,000
These calculations provide a clear picture of the national income from both the market price and factor cost perspectives.
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Quantity of tea produced=2000 , price of tea per kg =100 quantity of coffee produced =1500. price of coffee per kg=300. value of other agricultural products=6 lakh value of industrial product=8 lakh value of intermediate imputs =3 lakh depreciation=20000 NIT =1 lakh net factor income to abroad=50000 find GNPmp and GNPfc?
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Quantity of tea produced=2000 , price of tea per kg =100 quantity of coffee produced =1500. price of coffee per kg=300. value of other agricultural products=6 lakh value of industrial product=8 lakh value of intermediate imputs =3 lakh depreciation=20000 NIT =1 lakh net factor income to abroad=50000 find GNPmp and GNPfc? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Quantity of tea produced=2000 , price of tea per kg =100 quantity of coffee produced =1500. price of coffee per kg=300. value of other agricultural products=6 lakh value of industrial product=8 lakh value of intermediate imputs =3 lakh depreciation=20000 NIT =1 lakh net factor income to abroad=50000 find GNPmp and GNPfc? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Quantity of tea produced=2000 , price of tea per kg =100 quantity of coffee produced =1500. price of coffee per kg=300. value of other agricultural products=6 lakh value of industrial product=8 lakh value of intermediate imputs =3 lakh depreciation=20000 NIT =1 lakh net factor income to abroad=50000 find GNPmp and GNPfc?.
Quantity of tea produced=2000 , price of tea per kg =100 quantity of coffee produced =1500. price of coffee per kg=300. value of other agricultural products=6 lakh value of industrial product=8 lakh value of intermediate imputs =3 lakh depreciation=20000 NIT =1 lakh net factor income to abroad=50000 find GNPmp and GNPfc? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Quantity of tea produced=2000 , price of tea per kg =100 quantity of coffee produced =1500. price of coffee per kg=300. value of other agricultural products=6 lakh value of industrial product=8 lakh value of intermediate imputs =3 lakh depreciation=20000 NIT =1 lakh net factor income to abroad=50000 find GNPmp and GNPfc? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Quantity of tea produced=2000 , price of tea per kg =100 quantity of coffee produced =1500. price of coffee per kg=300. value of other agricultural products=6 lakh value of industrial product=8 lakh value of intermediate imputs =3 lakh depreciation=20000 NIT =1 lakh net factor income to abroad=50000 find GNPmp and GNPfc?.
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Quantity of tea produced=2000 , price of tea per kg =100 quantity of coffee produced =1500. price of coffee per kg=300. value of other agricultural products=6 lakh value of industrial product=8 lakh value of intermediate imputs =3 lakh depreciation=20000 NIT =1 lakh net factor income to abroad=50000 find GNPmp and GNPfc?, a detailed solution for Quantity of tea produced=2000 , price of tea per kg =100 quantity of coffee produced =1500. price of coffee per kg=300. value of other agricultural products=6 lakh value of industrial product=8 lakh value of intermediate imputs =3 lakh depreciation=20000 NIT =1 lakh net factor income to abroad=50000 find GNPmp and GNPfc? has been provided alongside types of Quantity of tea produced=2000 , price of tea per kg =100 quantity of coffee produced =1500. price of coffee per kg=300. value of other agricultural products=6 lakh value of industrial product=8 lakh value of intermediate imputs =3 lakh depreciation=20000 NIT =1 lakh net factor income to abroad=50000 find GNPmp and GNPfc? theory, EduRev gives you an
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