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in Economics by (66.1k points)

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 cost 3750
(ii) Compensation of employees 2000
(iii) Net Exports –(50)
(iv) Profits 700
(v) Net domestic capital formation 1000
(vi) Opening stock 150
(vii) Closing stock 200
(viii) Gross fixed capital formation 1050
(ix) Interest 600
(x) Rent 400
(xi) Factor income from abroad 20

1 Answer

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Best answer

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

= 200 + 700 + 600 + 400

= 3700

GDPFC = NDPFC + CFC

= (GFCF + S) – NDCF

= [1050 + (200 – 150)] – 1000

= 100

GDPFC = 3700 + 100 = 3800 Crores.

(b) FIPA : Factor income paid to abroad.

NFIA = GNPFC – GDPFC

= 3750 – 3800

= (–) 50

NFIA = FIFA – FIPA

– 50 = 20 – FIPA

FIPA = 20 + 50 = 70 Crores.

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