National Income Accounting — Economics STD 12 Commerce — Question

What is selective credit control?

Will the following items be included or not in National Income of India? Give reason for your answer.
Indirect taxes like sales tax, excise duty etc.

Give the meaning of autonomous consumption.

State two sources of demand for foreign exchange.

Will the following items be included or not in National Income of India? Give reason for your answer.
Salary to foreign technical specialists.

If inflation is higher in country A than in Country B, and the exchange rate between the two countries is fixed, what is likely to happen to the trade balance between the two countries?

What is the value added method of measuring national income?

Will the following items be included or not in National Income of India? Give reason for your answer.
Expenditure by government in providing free education.
OR
Free services by the Government.

If the domestic factor income is ₹ 50,000 crores and the national income is ₹ 45,000 crores, how much will be the net factor income from abroad?

Define GNP at Factor Cost.