Calculate (a) Gross domestic product at factor cost and (b) factor inc

1.	Calculate (a) Gross domestic product at factor cost and (b) factor income to abroad, from the following data.Rs. (Crore)(i) Gross national product at factor cost3750(ii) Compensation of employees2000(iii) Net Exports–(50)(iv) Profits700(v) Net domestic capital formation1000(vi) Opening stock150(vii) Closing stock200(viii) Gross fixed capital formation1050(ix) Interest600(x) Rent400(xi) Factor income from abroad20
Answer» (a) NDPFC = (ii) + (iv) + (ix) + (x) = 200 + 700 + 600 + 400 = 3700 GDP_FC = NDP_FC+ CFC = (GFCF + S) – NDCF = [1050 + (200 – 150)] – 1000 = 100 GDP_FC = 3700 + 100 = 3800 Crores. (b) FIPA : Factor income paid to abroad. NFIA = GNP_FC – GDP_FC = 3750 – 3800 = (–) 50 NFIA = FIFA – FIPA – 50 = 20 – FIPA FIPA = 20 + 50 = 70 Crores.

Calculate (a) Gross domestic product at factor cost and (b) factor income to abroad, from the following data.Rs. (Crore)(i) Gross national product at factor cost3750(ii) Compensation of employees2000(iii) Net Exports–(50)(iv) Profits700(v) Net domestic capital formation1000(vi) Opening stock150(vii) Closing stock200(viii) Gross fixed capital formation1050(ix) Interest600(x) Rent400(xi) Factor income from abroad20

Answer»

(a) NDPFC = (ii) + (iv) + (ix) + (x)

= 200 + 700 + 600 + 400

= 3700

GDP_FC = NDP_FC+ CFC

= (GFCF + S) – NDCF

= [1050 + (200 – 150)] – 1000

= 100

GDP_FC = 3700 + 100 = 3800 Crores.

(b) FIPA : Factor income paid to abroad.

NFIA = GNP_FC – GDP_FC

= 3750 – 3800

= (–) 50

NFIA = FIFA – FIPA

– 50 = 20 – FIPA

FIPA = 20 + 50 = 70 Crores.

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