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CBSE 2023 Class 12 Economics Outside Delhi Set 3

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Question : 1 of 5
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SECTION-A
On the basis of the data given below for an imaginary economy, estimate the Gross National Product at Market price (GNPMP):( \mathrm{GNP}_{\mathrm{MP}}) :
 S.No.  Items  Amount (₹ in crore)
 (i)  Household Consumption Expenditure  2,000
 (ii)  Government Final Consumption Expenditure  1,000
 (iii)  Gross Fixed Capital Formation  1,100
 (iv)  Net additions to Stock  200
 (v)  Exports  600
 (vi)  Net factor income from abroad  150
 (vii)  Imports  400
Solution:  
GNPMP=GDPMP+\mathrm{GNP}_{\mathrm{MP}} = \mathrm{GDP}_{\mathrm{MP}} + Net Factor Income from abroad =4500+150=4650= 4500 + 150 = 4650 crore
GDPMP=\mathrm{GDP}_{\mathrm{MP}} = Final Consumption Expenditure + Gross Domestic Capital Formation + Net Exports =3000+1300+200=4500= 3000 + 1300 + 200 = 4500 crore
(a) Final Consumption Expenditure == Household Consumption Expenditure + Government Final Consumption Expenditure =2000+1000=3000= 2000 + 1000 = 3000 crore
(b) Gross Domestic Capital Formation == Gross Fixed Capital Formation + Net Addition to Stock
=1100+200=1300   crore   = 1100 + 200 = 1300 \; \text{ crore } \;
(c) Net export == Exports - Imports =600−400= 600 - 400 =200= 200 crore
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