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Class 12EconomicsNational Income and Related AggregatesMethods of calculating national income - Expenditure MethodEasyLevel 30
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If C = 800, I = 300, G = 250, X = 180 and M = 130 crore, what is GDP?

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Answer and explanation

Correct answer: ₹1400 crore

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.

Related tags

EconomicsGdpExpenditure MethodNet ExportsNumericalMethods Of Calculating National Income Expenditure MethodNational Income And Related AggregatesClass 12 Mcq

Frequently asked questions

What is the correct answer to this question?

₹1400 crore

Why is this the correct answer?

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.

Which subject and chapter does this question cover?

This is a Class 12 Economics question. Chapter: National Income and Related Aggregates. Topic: Methods of calculating national income - Expenditure Method.

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10 more MCQs
  1. 1Studying income, output, and expenditure together in macroeconomics is linked with which idea?
  2. 2On what basis is national income estimated in the expenditure method?
  3. 3Private final consumption expenditure is generally denoted by which symbol in the expenditure method?
  4. 4Investment expenditure is denoted by which symbol in the expenditure method?
  5. 5Government final consumption expenditure is written with which symbol in the expenditure method?
  6. 6What is the difference between exports and imports called?
  7. 7Under the expenditure method, which of the following is classified as gross domestic capital formation?
  8. 8If C = 500, I = 150, G = 200, X = 100 and M = 80, what will be GDP at market price (GDPₘₚ)?
  9. 9Household spending on food, clothing and education falls under which category?
  10. 10Purchase of a new machine is included in which component of the expenditure method?
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