Re: AMIT SIR...PLEASE PLEASE HELP...JNU 2013!!!

Posted by Ankur9 on May 14, 2014; 6:58am
URL: http://discussion-forum.276.s1.nabble.com/AMIT-SIR-PLEASE-PLEASE-HELP-JNU-2013-tp7589641p7589653.html

Hi everyone. I'm having difficulty in solving the below questions. I do not have an economics background, so any help would be appreciated

Q.25 JNU 2013
India's GDP in 2009-10 at 5000000 crore. Indians working abroad remit to the country 150 crore and foreigners working in India remit 100 crore out of the country. Foreign investors repatriate 50 crore and Indian businesses abroad bring in 10 crore. India's GNP in 2009-10 would have been

a) 5000050
b) 4999950
c) 5000090
d) 4999910

Sol.       GNP = 5000000+150-100-50+10 = 5000010

What is incorrect in the above solution?

Q. 26 JNU 2013
National Accounts of a country show the following

NFIA                                                 10
Income from private domestic industries 780
Income from governmental industries     100
Personal consumption expenditures        500
Government Purchases                        250
Exports                                             40
Imports                                             60
Depreciation                                       30
Then the net domestic product is

a) 890
b) 880
c) 910
d) 660



Q. 60 JNU 2013
The GDP of a country is growing at 5%, its population growth is 2% and its income elasticity for food is 0.5. We can expect food demand to grow at

a) 2.0
b) 2.5
c) 3.5
d) 5.0

How would this be solved?