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From the following data, calculate (a) Gross Domestic Product at Factor Cost and (b) Factor Income to Abroad :Gross Domestic Product at Factor CostFactor Income to Abroad (₹ in 000)(i) Compensation of employees800(ii) Profits200(iii) Dividends50(iv) Gross national product at market price1,400(v) Rent150(vi) Interest100(vii) Gross domestic capital formation300(viii) Net fixed capital formation200(ix) Change in stock50(x) Factor income from abroad60(xi) Net indirect taxes120 |
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Answer» (a) Gross Domestic Product at factor cost = Compensation of employees + Rent + Interest + Profits + Gross domestic capital formation – Net fixed capital formation – Change in stock = 800 + 150 + 100 + 200 + 300 – 200 – 50 = 1,550 – 250 = ₹ 1,300(000) Crores (b) Factor Income to Abroad = Factor income from abroad – Net factor income for abroad Net factor income abroad = Gross national product at factor cost – Gross domestic product at factor cost = Gross national product at market price – Net indirect taxes – Gross domestic product at factor cost = 1,400- 120- 1,300 = (-)20 Crores Factor Income to Abroad = 60 – (- 20) = ₹ 80(000) Crores |
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