Answer all the problems described below:

Section A: Long Answer problems. (Answer in around 500 words each)

problem 1: Describe the relevance of the national income to the study of different aspects of the economy. As well, describe its different uses.

problem 2: Define the term disposable income. How do we find out Gross National Disposable income from the ‘sources’ and ‘uses’ side?

Section B: Medium Answer problems. (Answer in around 250 words each)

problem 3: How is national income estimates helpful for planning and policy purposes?

problem 4: prepare a brief note on the historical background of the first “flow of funds accounts” in India. State its limitations.

problem 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.

problem 6: How is Gender related Development Index is distinct from Human Development Index?

Section C: Short Answer problems. (Answer in around 100 words each)

problem 7: Describe the major components and significance of investment.

problem 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.