National Income Accounting: Numerical Practice Paper

National Income Accounting

 

                                                         

                                                               

1.       Calculate (a) GDPmp by Income method and (b) Closing stock. 

Particulars	Rs in Crore
i.                     Government final consumption expenditure	50
ii.                   Indirect taxes	60
iii.                  Interest	150
iv.                 Mixed income of self employed	20
v.                   Gross fixed capital formation	300
vi.                 Opening stock	10
vii.                Net export	( -)10
viii.              Compensation of employees	200
ix.                 Depreciation	30
x.                   Private final consumption expenditure	450
xi.                 Profit	250
xii.                Subsidies	10
xiii.              Net factor income from abroad	(-)10
xiv.              Rent	120

 

 2. From the following data, calculate net value added at market price.

Particulars	(Rs in thousands)
i.Sales	700
ii.Change in stock	40
iii.Depreciation	80
iv.Net indirect taxes	100
v. Purchase of machinery	250
vi.Purchase of intermediate products	400
Ans: Rs 260 thousands

 

3. Calculate the net value added at factor cost (FC) from the following data:

Particulars	Rs in Crore
i. Purchase of material	30
ii.Depreciation	12
iii.Sales	200
iv.Goods and Service tax	20
v.Opening stock	15
vi.Intermediate consumption	48
vii.Closing stock	10
Ans: Rs 115 crores. (Note: Here purchase of material is already included in intermediate consumption)

 

4. From the following data, calculate net value added at market price:

Particulars	Rs in Crore
i. Sales	300
ii. Depreciation	20
iii.Net Indirect taxes	30
iv.Purchase of intermediate products	150
v.Change in stock	(-)10
vi.Purchase of machinery	100
Ans: Rs 120 crores. (Note: Purchase of machinery is an investment, hence it is not included)

 

5. Find Gross Value Added at market price

Particulars	Rs in lakh
i.Depreciation	20
ii.Domestic sales	200
iii. Net change in stocks	(-)10
iv.exports	10
v.Single use producer goods	120
Ans: Rs 80 lakh (Note: As domestic sales is given, hence exports need to added)

 

6. Find the Net Value Added at market price

Particulars	Rs in lakh
i. Fixed capital good with a life span of 5 years	15
ii. Raw materials	6
iii.Sales	25
iv.Net change in stock	(-)2
v. Taxes on production	1
Ans: Rs 14 lakh. (Note: Annual Depreciation= 15/5= 3 lakh)

 

7. Calculate value of output and GDPfc

Particulars	Rs in crores
i. sales	1000
ii. Change in stock	200
iii. Sales tax	70
iv. Purchases	500
v. Excise duty	50
vi. Exports	200
Ans: Value of Output= 1200 crore and GDPfc= 580

 

8. Calculate Net Value Added at factor cost from the following data:Particulars	Rs in crores
i. Durable producer goods (with life span of 10 years)	10
ii. Single use producer goods	5
iii. Sales	20
iv.Unsold goods (Stock)	2
v. Goods and Service Tax (GST)	1
Ans: Rs 15 crore

 

9. Calculate value added by a firm from the following data:

Particulars	Rs in Crore
i. Sales	600
ii. Purchase of raw materials	200
iii.Import of raw materials	100
iv.Import of machines	200
v.Closing stock	40
vi. Opening stock	10
Ans: Rs 430 crore
Note: A. It is assumed that "Import of Raw Material" is already included in "Purchase of Raw Materials". and B: Value added means Gross Value Added at market price.

 

10. Calculate the Value added by firm A and firm B

Particulars	Rs in crores
i. Domestic sales by firm A	4,000
ii. Exports by firm A	1,000
iii. Purchases by firm A	200
iv. Sales by firm B	2,940
Purchase by firm B	1,300
Ans: Firm A= 4800 and Firm B= 1640

 

11. From the information given below calculate,          (a). Value added by firm A and firm B.               (b). GDPmp.              (c). NDPfc

Particulars	Rs in crores
i. Sales by firm B to general government	100
ii. Sales by firm A	500
iii.Sales by firm B to households	350
iv. Change in stock of firm A	20
v. Closing stock of firm B	40
vi. Opening stock of firm B	30
vii. Purchases by firm A	320
viii. Indirect taxes paid by both the firms	75
ix. Consumption of fixed capital	120
x. Sales by firm A to B	200
Ans: GVAmp of firm  A=  Rs 200 Crore  and firm  B=  Rs 260 crore.   GDPmp=  Rs 460 Crore  and NDPfc=  Rs 265 crore

 

12. Calculate GDPmp and GDPfc

Particulars	Rs in Crore
i. Sales by A	200
ii. Purchases from B by A	80
iii. Purchases from A by B	120
iv. Sales by B	400
v. Closing stock of A	40
vi. Opening stock of A	50
vii. Opening stock of B	90
viii. Closing stock of B	70
ix. Sales tax	30
x. GST	30
Ans: GVAmp of Firm A = Rs 110 crore and Firm B = Rs 260 crore and GDPmp = Rs 370 crore and GDPfc = 310 crore. (Note= First find out GVAmp of both firms separetly. Add the value of both the firms to get GDPmp)

 

13. Calculate 'Sales' from the following data:

Particulars	Rs in Crore
i. Subsidies	200
ii. Opening stock	100
iii. Closing stock	600
iv. Intermediate consumption	3,000
v. Consumption of fixed capital	700
vi. Profit	750
vii. Vet value added at factor cost	2,000
Ans: Sales= Rs 5000 crore.(Note: Calculate GVAmp frpm NVAfc first.)

 

14. Calculate Gross Value Added at factor cost

Particulars	Rs in Crore
i. Units of output sold	1,000
ii. Price per unit of output	30
iii. Depreciation	1,000
iv. Intermediate cost	12,000
v. Closing stock	3,000
vi. Opening stock	2,000
vii. GST	2,500
viii. Sales tax	3,500
Ans: Rs 13,000 crore

 

15. Calculate the Net Value Added at market price

Particulars	Rs in Crore
i. Sales	90
ii. Closing stock	25
iii. Opening stock	15
iv. Indirect taxes	10
v. Depreciation	20
vi. Intermediate consumption	40
vii. Purchase of raw materials	15
viii. Rent	5
ix. GST	30
Ans: NVAmp= Rs 40 crore.

 

16. Calculate NDPfc

Particulars	Rs in Crore
i. Rent	1,400
ii. Royalty	200
iii. Interest	1,500
iv. Wages and salaries	800
v. Profit	500
vi. Mixed income	1,000
vii. Depreciation	70
viii. Employer's contribution to social security schemes	200
Ans: NDPfc= Rs 5600 crore.

 

16. Calculate National Income

Particulars	Rs in Crore
i. Compensation of employee	800
ii. Rent	200
iii. Wages and Salaries	750
iv.Net exports	(-) 30
v. Net factor income from abroad	(-) 20
vi. Profit	300
vii. Interest	100
viii. Depreciation	50
Ans: NNPfc= Rs1380 crore.

 

18. Calculate GNPmp from the following data:

Particulars	Rs in Crore
i. Net indirect tax	900
ii. Depreciation	400
iii.Net factor income from abroad	(-)20
iv. Rent	1,000
v. Dividend	500
vi. Mixed income of self employed	300
vii. Saving of private corporate sector	400
viii. Interest	200
ix. Compensation of employees	1,000
Ans: GNPmp= Rs 4680 crore

 

19. Calculate the Operating Surplus:

Particulars	Rs in Crore
i. Sales	4,000
ii. Compensation of employees	800
iii. Intermediate consumption	600
iv. Rent	400
v. Interest	300
vi.Net indirect taxes	500
vii. Consumption of fixed capital	200
viii. Mixed income of self employed	1400
Ans: Rs 500 crore. (Note: We need to find NDPfc first as data on components of operating surplus is not given)

 

20. Calculate GNPfc

Particulars	Rs in Crore
i. Gross fixed capital formation	100
ii. Change in stock	20
iii.Net capital formation	110
iv. Mixed income of self employed	200
v.Net factor income from abroad	(-) 10
vi.Net exports	(-) 20
vii. Compensation of employees	250
viii. Operating surplus	400
ix.Net indirect taxes	50
Ans: Rs 850 crore

 

21. Calculate National Income:

Particulars	Rs in Crore
i. Mixed income of self employed	200
ii. Old age pension	20
iii. Dividend	100
iv. Operating surplus	900
v. Wages and salaries	500
vi. Profit	400
vii. Employer's contribution to social security schemes	50
viii.Net factor income from abroad	(-) 10
ix. consumption of fixed capital	50
x. Net indirect taxes	50
Ans: Rs 1640 crore

 

22. Calculate Net domestic Product at factor cost

Particulars	Rs in Crore
i. Private final consumption expenditure	8,000
ii. Government final consumption expenditure	1,000
iii. Exports	70
iv. Imports	120
v. Consumption of fixed capital	60
vi. Gross domestic fixed capital formation	500
vii. Change in stock	100
viii. Factor income to abroad	40
ix. Factor income from abroad	90
x. Indirect taxes	700
xi. Subsidies	50
xii. Net current transfer to abroad	(-) 30
Ans: Rs 8,840 crore

 

23. Find Compensation of employees from the following data:

Particulars	Rs in Crore
i. Profit	500
ii.Net domestic product at factor cost	4,000
iii. Interest	400
iv. Depreciation in the value of fixed capital	800
v. Mixed income of self employed	1,500
vi. Indirect taxes	300
vii. Subsidies	100
viii. Rent	600
Ans: Rs 1,000 crores

 

24. From the following data, calculate 'Operating Surplus':

Particulars	Rs in Crore
i. Net indirect taxes	300
ii. Gross domestic product at market price	3,120
iii. Employees contribution to social security schemes	200
iv. Compensation of employees	1,600
v. Rent	200
vi. Interest	150
vii.Net factor income from abroad	(-) 20
viii. Depreciation	200
Ans: Operating Surplus= Rs1,020 crore

 

25. Find 'Wages and Salaries' from the following data:

Particulars	Rs in Crore
i. Royalty	50
ii. Rent	100
iii. Interest	400
iv. Net indirect taxes	70
v. Net national product at market price	1,700
vi.Profit	300
vii. Net factor income to abroad	(-) 20
viii.Consumption of fixed capital	120
ix.Social security contribution by employers	60
x. Social security contribution by employees	40
x. Ans: Rs 700 crore. (Note= Donot include social security contribution by employees)

 

26. From the following data, calculate 'Mixed Income of Self-employed:

Particulars	Rs in Crore
i. Profit	500
ii. Rent	200
iii. Consumption of fixed capital	100
iv. Compensation of employees	1,000
v. National income	2,700
vi. Corporation tax	200
vii. Net retained earnings of private enterprises	150
viii.Net factor income from abroad	(-) 50
ix. Interest	250
x.Net indirect taxes	160
Ans: Mixed Income of Self-employed =Rs 800 crore.

 

27. Calculate "Government Final Consumption Expenditure' from the following data:

Particulars	Rs in Crore
i. National income	930
ii. Net domestic fixed capital formation	100
iii.Net imports	(-) 20
iv.Net indirect tax	5
v. Net current transfer from abroad	15
vi. Private final consumption expenditure	600
vii. Change in stock	10
viii. Net factor income from abroad	5
ix. Gross domestic fixed capital formation	125
Ans: Government Final Consumption Expenditure = Rs 200 crore

 

28. Find out 'Gross Domestic Capital Formation' from the following data:

Particulars	Rs in Crore
i.Net imports	(-) 10
ii. National income	770
iii. Private final consumption expenditure	600
iv. Consumption of fixed capital	60
v. Factor income from abroad	10
vi. Government final consumption expenditure	200
vii.Net factor income to abroad	20
viii. Net current transfer to abroad	30
ix.Net indirect taxes	70
Ans: Gross domestic capital formation = Rs 110 crore

 

29. Calculate (a) Domestic Income and (b) compensation of Employees.

Particulars	Rs in Crore
i.Net factor income from abroad	(-) 20
ii. Net exports	10
iii. Net indirect taxes	50
iv. Rent and royalty	20
v. Consumption of fixed capital	10
vi. Private final consumption expenditure	400
vii. Corporation taxes	10
viii. Interest	30
ix.Net domestic capital formation	50
x. dividends	22
xi. Government final consumption expenditure	100
xii. Undistributed profit	5
xiii. Mixed income of self-employed	23
Ans: Domestic Income= Rs510 crore and Compensation of Employees = Rs 400 crore.

 

30. Calculate National Income by (a) Income Method and (b) Expenditure Methods

Particulars	Rs in Crore
i. Compensation of employees	5200
ii. Government final consumption expenditure	1500
iii. Subsidy	(-)1400
iv. Operating surplus	2000
v.Net exports	(-) 400
vi. Gross domestic fixed capital formation	2500
vii. Change in stock	400
viii. Net factor income paid to abroad	(-) 400
ix. Depreciation	1000
x. Mixed income	6400
xi. Private final consumption expenditure	12000
Ans: Nation Income = Rs 14,000 crore.

31. Calculate National Income by (a) Income Method and (b) Expenditure Method.

Particulars	Rs in Crore
i. Net domestic capital formation	360
ii. Interest	200
iii. Rent	300
iv. Private final consumption expenditure	1,300
v. Government final consumption expenditure	730
vi.Net exports	(-) 20
vii.Net indirect taxes	70
viii.Net current transfer from rest of the world	80
ix. Consumption of fixed capital	60
x. Net factor income from abroad	(-) 50
xi. Profits	600
xii. Compensation of employees	1,200
Ans: National Income = Rs 2250 crore.

 

32. Calculate national income by (a) Income method and (b) Expenditure method

Particulars	Rs in Crore
i. Retirement pension	500
ii. Wages and salaries	6,500
iii. Contribution of employers' in social security	1,400
iv. Income from property and enterprises	1,500
v. Mixed income of self-employed	2,500
vi. Old age Pension	700
vii. Private final consumption expenditure	3,000
viii. Payment of compensation of employees by the Government	3,000
ix. Direct purchase of non-durable goods from abroad by the government	1,800
x. Net purchase of goods and services by the Government in domestic market	1,200
xi. Net factor income from abroad	(-) 400
xii. Gross domestic capital formation	6,000
xiii. Net domestic capital formation	3,000
xiv. Net indirect taxes	600
xv. Net exports	1,000
Ans: Rs 12,000 crore
Note: Add Retirement pension in income method and ignore (donot include) payment of compensation of employees by the Government in expenditure method.

 

33. From the following data, calculate Net National Product at market price (MP) by (a) Income method and (b) Expenditure method

Particulars	Rs in Crore
i. Personal consumption expenditure	1,400
ii. Wages and salaries	1,400
iii. Employers' contribution to social security schemes	200
iv. Contribution to provident fund by the employees through the employer	100
v. Gross business fixed capital formation	120
vi. Gross residential construction investment	120
vii. Gross public expenditure	480
viii. Rent	100
ix. Inventory investment	40
x. Dividend and corporate profit tax	120
xi. Corporate saving	80
xii. Excess of exports over imports	40
xiii. Interest	80
xiv. Mixed income of self-employed	200
xv. Net factor income to abroad	20
xvi. Depreciation	0
xvii. Indirect taxes	40
xviii. Subsidy	20
Ans: Rs 2,180 crore (both the method)

 

34. From the following data , Calculate (a) Gross Domestic Product at factor cost and (b) Factor Income from abroad.

Particulars	Rs in Crore
i. Gross domestic capital formation	600
ii. Interest	200
iii. Gross national product at market price	2,800
iv. Rent	300
v. Compensation of employees	1,600
vi. Profit	400
vii. Dividends	150
viii. Factor income from abroad	50
ix. change in stock	100
x. Net indirect taxes	240
xi. Net fixed capital formation	400
xii. Net exports	(-)30
Ans: GDPfc= Rs 2,750 crores and Factor Income from Abroad= Rs 240 crores

 

35. From the following data calculate (a) Gross Domestic Product at market price and (b) Subsidies

Particulars	Rs in Crore
i.                     Government final consumption expenditure	7,000
ii.                   Indirect taxes	9,000
iii.                  NNPfc	61,700
iv.                 Mixed income of self employed	28,000
v.                   Gross fixed capital formation	13,000
vi.                 Net addition to stocks	10,000
vii.                Compensation of employees	24,000
viii.              Depreciation	4,000
ix.                 Private final consumption expenditure	44,000
x.                   Exports of goods and services	4,800
xi.                 Imports of goods and services	5,600
xii.                Net factor income from abroad	(-)300
Ans:  GDPmp =  Rs73200 crore     Subsidies=  Rs1800 crore

 

  36. From the following data, calculate (a) Gross Domestic Product at Factor cost and (b) Factor income to abroad

Particulars	Rs in Crore
i.                     Compensation of employees	800
ii.                   Profit	200
iii.                  Dividends	50
iv.                 Gross national product at market price	1,400
v.                   Rent	150
vi.                 Interest	100
vii.                Gross domestic capital formation	300
viii.              Net fixed capital formation	200
ix.                 Change in stock	50
x.                   Factor income from abroad	60
xi.                 NIT	120

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