Real and Nominal National Income
Economics ⇒ National Income and Related Aggregates
Real and Nominal National Income starts at 12 and continues till grade 12.
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Explain how deflation (fall in price level) affects the relationship between real and nominal national income.
Explain the impact of inflation on nominal and real national income.
Explain the significance of the base year in the calculation of real national income.
Explain why nominal national income may give a misleading picture of economic growth.
Explain why real national income is preferred over nominal national income for international comparisons.
If the nominal national income increases but the real national income remains the same, what does it indicate?
If the nominal national income is ₹12,000 crore and the price index is 80, what is the real national income?
If the nominal national income is ₹15,000 crore and the price index is 150, what is the real national income?
If the nominal national income is ₹18,000 crore and the price index is 120, what is the real national income?
If the nominal national income is ₹20,000 crore and the price index is 200, what is the real national income?
If the nominal national income of a country is ₹10,000 crore and the price index is 125, what is the real national income?
If the price index in the base year is always 100, what will be the value of real national income and nominal national income in the base year?
If the price index increases but the output remains the same, what happens to nominal and real national income?
If the price index is 100, what is the relationship between nominal and real national income?
If the price index is less than 100, will real national income be greater than or less than nominal national income?
If the price index rises from 100 to 120 and nominal national income rises from ₹5,000 crore to ₹6,000 crore, has real national income increased, decreased, or remained the same?
State the formula to convert nominal national income to real national income.
What is the main difference between real national income and nominal national income?
Why is it important to use real national income instead of nominal national income for comparing economic growth over different years?
