SELECT * FROM question_mgmt as q WHERE id=5468 AND status=1 SELECT id,question_no,question,chapter FROM question_mgmt as q WHERE courseId=3 AND subId=59 AND chapterId=603 and ex_no='1' AND status=1 ORDER BY CAST(question_no AS UNSIGNED) CBSE Free NCERT Solution of 12th macro-economics National Income Accounting net national product at factor cost of a particula

Question:

Net National Product at Factor Cost of a particular country in a year is Rs 1,900 crores. There are no interest payments made by the households to the firms/government, or by the firms/government to the households. The Personal Disposable Income of the households is Rs 1,200 crores. The personal income taxes paid by them is Rs 600 crores and the value of retained earnings of the firms and government is valued at Rs 200 crores. What is the value of transfer payments made by the government and firms to the households?

Answer:

NNPFC = Rs.1900 crores
PDI = Rs.1200 crores
Personal income tax = Rs.600 crores
Value of retained earnings = Rs.200 crores
PDI = NNPFC - Value of retained earnings of firms and government + Value of transfer Payments - Personal tax

⇒ 1200 = 1900 - 200 + Value of transfer payments - 600
⇒ 1200 = 1100 + Value of transfer payments
⇒ Value of transfer payment = 1200 - 1100 = Rs 100 crores


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