Trends of national income, Microeconomics

Assignment Help:

TRENDS OF NATIONAL INCOME:

Estimates relating to India's national income and per capita income are available to us for each of the years beginning 1950-51. These estimates are available to us both at current prices for each of the years, and at constant prices (Base 1993-94) also for each of the years. For the purpose of comparison over a period of time, we generally concentrate on estimates at constant prices. 

It would be seen from that India's national income (at constant prices) has got multiplied by about 10 times during the period beginning with 1950-51. During the same period, per capita income has been increasing, from Rs. 3,687.1 in 1950-51 to Rs. 11,798.7, i.e., by about 3.5 times. The difference in the growth between the national income and the per capita income is accounted for by the growth in population. However, the fact that the per capita income in the economy has been increasing proves that the rate of growth of national income has been more than the rate of growth of population. Let us work out the rates of growth of national income and per capita income for each of the years beginning 1950-51.


Related Discussions:- Trends of national income

Price determination, illustrate and discuss the implications of various mar...

illustrate and discuss the implications of various market structures (competitive and non-competitive) for price determination

What is the distinguishing characteristic of institutions, What is the dist...

What is the distinguishing characteristic of institutions in the public purpose sphere? The distinguishing characteristic of institutions in the public purpose sphere is that t

Explain how the price system eliminates a shortage, Explain how the price s...

Explain how the price system eliminates a shortage. A deficiency means that quantity demanded is greater as compared to quantity supplied. This will lead to upward pressure on pr

The free enterprise: price system, The Free Enterprise:  Price System ...

The Free Enterprise:  Price System The free market system is where the decision about what is produced is the outcome of millions of separate individual decisions made by cons

Consumer=m, consumer=m with the help of indifference curve analyis

consumer=m with the help of indifference curve analyis

Atmospheric Pollution, Earth is completely surrounded by thick envelope of ...

Earth is completely surrounded by thick envelope of gases called atmosphere. Atmosphere is sub divided into different layers depending upon the distance from the sea level. The

Short-run economic decisions, Weston Industrial Manufacturing Products ("WI...

Weston Industrial Manufacturing Products ("WIMP") has the capability to produce a variety of industrial products, including a number of types of widgets. In the past, WIMP has manu

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd