Question
Define double counting. How can the problem of double counting be avoided?
| Firms | Value of output | Minus | I.C | Value Addede |
| A | 1000 | _____ | 0 | 1000 |
| B | 2000 | _____ | 1000 | 1000 |
| C | 2700 | _____ | 2000 | 700 |
| D | 3500 | _____ | 2700 | 800 |
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|
S. No.
|
|
$(₹$ in lakhs$)$
|
| $(i)$ |
Sales.
|
$180$ |
| $(ii)$ |
Rent.
|
$5$ |
| $(iii)$ |
Subsidy.
|
$10$ |
| $(iv)$ |
Change in stock.
|
$15$ |
| $(v)$ |
Purchase of raw materials.
|
$100$ |
| $(vi)$ |
Profits.
|
$25$ |
|
S. No.
|
|
(₹ in crores)
|
|
(i)
|
Compensation of employees.
|
2,000
|
|
(ii)
|
Rent and interest.
|
800
|
|
(iii)
|
Indirect taxes.
|
120
|
|
(iv)
|
Corporation tax.
|
460
|
|
(v)
|
Consumption of fixed capital.
|
100
|
|
(vi)
|
Subsidies.
|
2
|
|
(vii)
|
Dividend.
|
940
|
|
(viii)
|
Undistributed profits.
|
300
|
|
(ix)
|
Net factor income to abroad.
|
150
|
|
(x)
|
Mixed income.
|
200
|
| $Rs. ($crore$)$ | ||
| $(a)$ | Net Domestic Product at factor cost | $8,000$ |
| $(b)$ | Net Factor Income from abroad | $200$ |
| $(c)$ | Undisbursed Profit | $1,000$ |
| $(d)$ | Corporate Tax | $500$ |
| $(e)$ | Interest Received by Households | $1,500$ |
| $(f)$ | Interest Paid by Households | $1,200$ |
| $(g)$ | Transfer Income | $300$ |
| $(h)$ | Personal Tax | $500$ |