JNU SSS 2014 Question 1: National income accounting
Expenditure on Gross Domestic Product (in ₹ 100 billion)
| At Current Prices | 2009–10 | 2010–11 | 2011–12 | 2012–13 |
|---|
| 1. Final consumption expenditure | 448 | 525 | 617 | 696 |
| 1.1 Government final consumption expenditure | 77 | 89 | 103 | 119 |
| 1.2 Private final consumption expenditure | 371 | 436 | 514 | 577 |
| 2. Gross fixed capital formation | 206 | 241 | 286 | 307 |
| 3. Change in stocks | 18 | 27 | 17 | 17 |
| 4. Valuables | 12 | 16 | 25 | 27 |
| 5. Exports of goods and services | 130 | 171 | 215 | 243 |
| 5.1 Export of goods | 85 | 114 | 147 | 163 |
| 5.2 Export of services | 45 | 57 | 68 | 79 |
| 6. Import of goods and services | 165 | 205 | 272 | 311 |
| 6.1 Import of goods | 136 | 168 | 235 | 267 |
| 6.2 Import of services | 28 | 37 | 38 | 44 |
| 7. Discrepancies | 0 | 3 | 14 | 32 |
| 8. Expenditure on gross domestic product | A | B | C | D |
| At Constant 2004–05 Prices | 2009–10 | 2010–11 | 2011–12 | 2012–13 |
|---|
| 1. Final consumption expenditure | 340 | 368 | 400 | 421 |
| 1.1 Government final consumption expenditure | 55 | 58 | 62 | 66 |
| 1.2 Private final consumption expenditure | 285 | 309 | 338 | 355 |
| 2. Gross fixed capital formation | 159 | 177 | 199 | 200 |
| 3. Change in stocks | 14 | 21 | 12 | 11 |
| 4. Valuables | 9 | 13 | 13 | 18 |
| 5. Exports of goods and services | 100 | 120 | 138 | 145 |
| 5.1 Export of goods | 66 | 82 | 96 | 100 |
| 5.2 Export of services | 34 | 38 | 42 | 45 |
| 6. Import of goods and services | 133 | 154 | 187 | 199 |
| 6.1 Import of goods | 112 | 127 | 163 | 174 |
| 6.2 Import of services | 21 | 27 | 23 | 25 |
| 7. Discrepancies | –10 | –15 | –12 | –6 |
| 8. Expenditure on gross domestic product | 479 | X | Y | Z |
Source : CSO Press Note dated 31st January, 2014
D (i.e., expenditure on GDP at current prices in 2012–13) is equal to
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Expenditure on Gross Domestic Product (in ₹ 100 billion) | At Current Prices | 2009–10 | 2010–11 | 2011–12 | 2012–13 | 1. Final consumption expenditure | 448 | 525 | 617 | 696 | 1.1 Government final consumption expenditure | 77 | 89 | 103 | 119 | 1.2 Private final consumption expenditure | 371 | 436 | 514 | 577 | 2. Gross fixed capital formation | 206 | 241 | 286 | 307 | 3. Change in stocks | 18 | 27 | 17 | 17 | 4. Valuables | 12 | 16 | 25 | 27 | 5. Exports of goods and services | 130 | 171 | 215 | 243 | 5.1 Export of goods | 85 | 114 | 147 | 163 | 5.2 Export of services | 45 | 57 | 68 | 79 | 6. Import of goods and services | 165 | 205 | 272 | 311 | 6.1 Import of goods | 136 | 168 | 235 | 267 | 6.2 Import of services | 28 | 37 | 38 | 44 | 7. Discrepancies | 0 | 3 | 14 | 32 | 8. Expenditure on gross domestic product | A | B | C | D | At Constant 2004–05 Prices | 2009–10 | 2010–11 | 2011–12 | 2012–13 | 1. Final consumption expenditure | 340 | 368 | 400 | 421 | 1.1 Government final consumption expenditure | 55 | 58 | 62 | 66 | 1.2 Private final consumption expenditure | 285 | 309 | 338 | 355 | 2. Gross fixed capital formation | 159 | 177 | 199 | 200 | 3. Change in stocks | 14 | 21 | 12 | 11 | 4. Valuables | 9 | 13 | 13 | 18 | 5. Exports of goods and services | 100 | 120 | 138 | 145 | 5.1 Export of goods | 66 | 82 | 96 | 100 | 5.2 Export of services | 34 | 38 | 42 | 45 | 6. Import of goods and services | 133 | 154 | 187 | 199 | 6.1 Import of goods | 112 | 127 | 163 | 174 | 6.2 Import of services | 21 | 27 | 23 | 25 | 7. Discrepancies | –10 | –15 | –12 | –6 | 8. Expenditure on gross domestic product | 479 | X | Y | Z | Source: CSO Press Note dated 31st January, 2014 D (i.e., expenditure on GDP at current prices in 2012–13) is equal to (A) 1011 (B) 1568 (C) 1633 (D) 2883
National income accounting has come up 132 times in 6 exams since 2010.
What this question tests
This question is on The expenditure method, part of National income accounting in Macroeconomics.
Measuring GDP as consumption, investment, government spending and net exports.
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