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Unit 2: National Income




          9.   Define NNP, GNP, GDP and disposable income. Discuss the relation between them.   Notes
          10.  What is the relevance of national income statistics in business decisions? What kinds of
               business decisions are influenced by the change in national income?

          11.  Explain the concept of value added. What role does it play in national income estimation?
          12.  Discuss the Circular Flow of Income in a 2 and 4 sector economy.

          Answers: Self  Assessment

          1.   National Income                  2.   Less
          3.   Double counting                  4.   (b)
          5.   (d)                              6.   (a)

          7.   (b)                              8.   (c)
          9.   True                             10.  False
          11.  True                             12.  False

          13.  True                             14.  False
          15.  True                             16.  household,  firm
          17.  four                             18.  open

          2.9 Further Readings




           Books      Bibek Debroy, Managerial Economics, Global Business Press, Delhi
                      Dr. Atmanand, Managerial Economics, Excel Books, Delhi

                      Mishra & Puri, Indian Economy, Himalaya Publishing House



          Online links  http://www.tradechakra.com/indian-economy/national-income.html
                      http://www.economywatch.com/world-country/national-income.html

                      http://www.wisegeek.com/what-is-a-circular-flow-of-income.htm
                      http://tutor2u.net/economics/content/topics/macroeconomy/circular_flow.htm






















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