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National Income Video Lecture | Economics for SSC CGL Exam (Hindi)
FAQs on National Income Video Lecture - Economics for SSC CGL Exam (Hindi)
| 1. What is national income? |  |
Ans. National income refers to the total value of all goods and services produced within a country's borders in a specific time period, typically a year. It includes the income earned by individuals, businesses, and the government, and is used as an indicator of a country's economic growth and standard of living.
| 2. How is national income calculated? | |
Ans. National income is calculated using various methods, including the expenditure approach, income approach, and production approach. The expenditure approach adds up all the spending on goods and services by individuals, businesses, and the government. The income approach calculates national income by summing up the wages, salaries, profits, rents, and interest earned by individuals and businesses. The production approach measures national income by adding up the value of all final goods and services produced in the country.
| 3. What are the components of national income? | |
Ans. The components of national income include wages and salaries earned by individuals, profits earned by businesses, rents earned from land and property, interest earned from lending money, and any government transfer payments such as pensions or welfare benefits. These components represent the various sources of income within an economy.
| 4. How does national income affect the government's job creation? | |
Ans. National income plays a crucial role in the government's ability to create jobs. When national income is high, it indicates a strong and growing economy, which provides the government with more resources and funds to invest in job creation programs. Higher national income allows the government to allocate more funds towards infrastructure development, education, healthcare, and other sectors that contribute to job growth.
| 5. What is the relationship between government jobs and national income? | |
Ans. Government jobs can have a direct impact on national income. When the government hires more employees, it increases the overall employment rate, which in turn boosts national income. Government spending on salaries and benefits also adds to national income as it represents a portion of the overall expenditure within the economy. Additionally, government jobs often involve providing essential services and infrastructure development, which can further stimulate economic activity and contribute to national income growth.
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Nov 21, 2024 Last updated |
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