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SubjectsEconomics
राष्ट्रीय आय की गणना की व्यय विधि
In Class 12 Economics, this topic explains how national income is estimated by adding expenditure on final goods and services during an accounting year. Students study private final consumption expenditure, government final consumption expenditure, gross domestic capital formation, and net exports, using the identity GDP at market prices = C + I + G + (X − M). They also learn how to avoid double counting and make adjustments for depreciation, net factor income from abroad, and net indirect taxes when deriving related aggregates.
Correct answer: A. ₹1400 crore
Explanation: Using the expenditure method, GDP = C + I + G + (X − M). First calculate net exports: X − M = 180 − 130 = 50 crore. Then GDP = 800 + 300 + 250 + 50 = ₹1400 crore. Option B would result from incorrectly adding imports, whereas imports must be subtracted because they are foreign production.
Correct answer: B. ₹−50 crore
Explanation: Net exports are calculated as exports minus imports, or X − M. Substituting the given values gives 250 − 300 = −50 crore. The negative result means that imports are greater than exports by ₹50 crore. Therefore, net exports reduce aggregate expenditure by ₹50 crore rather than increasing it.
Correct answer: A. Because they are not domestic production
Explanation: Imports are subtracted because they represent goods and services produced in other countries, not current production within the domestic economy. They may be included temporarily in consumption, investment, or government expenditure, so subtracting imports removes the foreign-produced portion. This ensures that the expenditure formula measures domestic output and explains the term X − M.
Correct answer: A. Private final consumption expenditure
Explanation: A household’s purchase of a new car is expenditure on a newly produced durable consumer good. In the expenditure method, such household spending is recorded under private final consumption expenditure, provided the car is for household use rather than business production. It is not government spending, net exports or a transfer payment.
Correct answer: A. GDP = C + I + G + (X − M)
Explanation: The expenditure method adds spending on final goods and services in the economy. Its standard expression is GDP = C + I + G + (X − M), where C is private consumption, I is investment, G is government expenditure, X is exports, and M is imports. Exports are added because they are domestic production sold abroad, while imports are subtracted because they are included in spending but produced elsewhere. Thus, option A is correct.
Correct answer: B. 8,200
Explanation: Using the expenditure identity, GDP = C + I + G + (X − M). Net exports are X − M = 900 − 700 = 200. Therefore, GDP = 5,000 + 1,800 + 1,200 + 200 = 8,200. Option 8,900 would fail to subtract imports, while 9,600 would add exports and imports incorrectly. Therefore, option B is the only correct answer.
Correct answer: B. −150
Explanation: Net exports are calculated using the formula NX = exports − imports. Therefore, NX = 500 − 650 = −150. The negative sign is important: it shows that imports exceed exports by 150. Option A gives only the absolute difference and is not the actual value of net exports.
Correct answer: A. 180
Explanation: Under the expenditure approach, net exports are calculated as exports minus imports: NX = X − M. Here, NX = 700 − 520 = 180. Because exports exceed imports, net exports make a positive contribution of 180 to aggregate expenditure and GDP. A value of −180 would arise only if imports were 180 greater than exports. Therefore, option A is correct.
Correct answer: C. Investment
Explanation: The governing concept is the expenditure method of measuring GDP, in which expenditure is grouped as consumption, investment, government spending and net exports. An increase in inventories means that some current production remains unsold, but it has still been produced during the period. It is therefore recorded as inventory investment, making option C correct. Government consumption, net exports and transfer expenditure do not represent this stock accumulation.
Correct answer: A. Government capital formation
Explanation: A newly purchased ambulance is a durable asset used by the government to provide transport or medical services over several years. Its purchase is therefore recorded as government investment or government gross capital formation in expenditure accounting. It is not a transfer payment, private consumption, or an export transaction.
Correct answer: C. Exports minus imports
Explanation: Net exports measure the foreign-trade contribution to domestic expenditure and are calculated as exports minus imports: NX = X − M. Exports are goods and services produced domestically and sold abroad, while imports are produced abroad and must be subtracted to avoid counting them in domestic output.
Correct answer: D. Negative 60 crore rupees
Explanation: The governing concept is net exports, which are exports minus imports: NX = X − M. Substituting the given values gives NX = 300 − 360 = −60 crore rupees. Therefore, option D is correct. The negative result means imports exceed exports by 60 crore rupees, indicating a trade deficit. Option A ignores the negative sign, B adds the two values, and C incorrectly treats the difference as zero.
