National Income and Related Aggregates Solutions | Class 12 Macroeconomics | Prepared by CHK Students

National Income and Related Aggregates Solutions | Class 12 Macroeconomics | Prepared by CHK Students

Understanding National Income and Related Aggregates is one of the most crucial parts of Class 12 Macroeconomics. This topic not only forms a major portion of the CBSE Economics syllabus but also helps students build a strong foundation for higher studies in commerce and economics, our CHK Student Keshav Khandelwal has carefully prepared these step-by-step solutions for the Income Method.

What You’ll Learn in This Chapter

The chapter deals with concepts that help measure the economic performance of a country. Here are some of the key topics covered:

Basic Concepts of Macroeconomics

• Domestic Territory, Normal Residents
• Factor Income & Transfer Income

National Income Aggregates

• GDP, GNP, NDP, NNP (at Market Price and Factor Cost)

• Personal Income, Disposable Income, Private Income, National Disposable Income

Circular Flow of Income

• Two-sector model (Households & Firms)

• Real and Money Flow

Methods of Calculating National Income

• Income Method
• Expenditure Method
• Value Added Method

Precautions While Calculating National Income

Why Choose CHK Student’s Solutions?

Our solutions are designed to be:

• Clear and Simple: Step-by-step explanations of numerical problems.

• Exam-Oriented: Covers all NCERT questions, additional HOTS, and CBSE sample paper-based questions.

• Visually Structured: Tables, formulas, and aggregates are neatly presented for easy understanding.

• Prepared by Toppers: Created by CHK students who have excelled in Class 12 Economics.

Here’s the Solutions –

1. Calculate GNP at FC (Gross National Product at Factor Cost)

2. Calculate Domestic Income

3. Calculate National Income or NNP at FC.

4. Calculate GDP at MP

5. Calculate Domestic Income

6. Calculate (a) Domestic Income, (b) National Income

7. Calculate Indirect taxes from the following data:

8. Calculate Factor income to abroad:

9. Calculate Depreciation:-

10. Calculate Subsidies:-

11. Given the following, calculate National Income and GNP at MP.

12. Given the following, calculate NNP at MP and GNP at FC.

13. Calculate NDP at FC and NNP at FC

14. Calculate GDP at MP and GNP at MP.

15. Calculate NDP at FC and National Income

16. Calculate GNP at FC and NDP at MP

Tips for Students

• Always specify Market Price or Factor Cost when writing GDP, NDP, GNP, or NNP.
• Remember to subtract depreciation to move from Gross to Net values.
• Add or subtract Net Factor Income from Abroad carefully to shift between domestic and national aggregates.

• Practice at least 5–6 numericals daily for speed and accuracy.

Also Download – Class 12 Income Method Solutions

Conclusion

Understanding National Income and Related Aggregates is the foundation of Class 12 Macroeconomics and plays a crucial role in developing a clear perspective on how an economy functions. By working through these solutions prepared by CHK Students, you get a structured approach to solving questions on GDP, GNP, NDP, and other key aggregates with accuracy.

These solutions not only help in board exam preparation but also build your conceptual clarity for higher studies in economics, commerce, and management. Keep revising regularly, practice numerical problems, and focus on the logic behind each concept — this will ensure you master this chapter with confidence.

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