National Income — Economics STD 11 Commerce — Question
Gujarat BoardEnglish MediumSTD 11 CommerceEconomicsNational Income2 Marks
Question
State the difference between monetary and real national income.
✓
Answer
Difference between Monetary and Real National Income :
If the national income is measured at current price it is called monetary national income and if national income is measured at base-year then it is called real national income.
In calculation of monetary national income, goods or services produced e during a year in a cowry are multiply with market price and summation s done.
In real national come it is done at fixed price and summation is done.
Production and price both are affected in monetary national in shows the true situation than monetary national income.
In comparison of previous year if the price level is constant then the value of monetary and real national income will be same.
Need a full question paper?
Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.