Answer all the questions described below:
Section A: Long Answer Questions. (Answer in around 500 words each)
Question 1: Describe the relevance of the national income to the study of different aspects of the economy. As well, explain its different uses.
Question 2: Define the term disposable income. How do we calculate Gross National Disposable income from the ‘sources’ and ‘uses’ side?
Section B: Medium Answer Questions. (Answer in around 250 words each)
Question 3: How is national income estimates helpful for planning and policy purposes?
Question 4: Write a brief note on the historical background of the first “flow of funds accounts” in India. State its limitations.
Question 5: Attempt any three of the given terms:
a) Non-durable capital goods.
b) Appropriation account.
c) Circular flow of income.
d) Gross value added.
e) Environmental Protection services.
Question 6: How is Gender related Development Index is distinct from Human Development Index?
Section C: Short Answer Questions. (Answer in around 100 words each)
Question 7: Describe the major components and significance of investment.
Question 8: Distinguish between the given terms:
a) Stock variable and flow variable.
b) Current transfer and capital transfer.
c) Financial flows and non financial flows.