Product Year 2018 Year 2019 Year 2020 Price Quantity Price Quantity Price Quantity Apple 20 2 20 4 20 Orange 12 N 15 3 1

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Product Year 2018 Year 2019 Year 2020 Price Quantity Price Quantity Price Quantity Apple 20 2 20 4 20 Orange 12 N 15 3 1 1 (57.64 KiB) Viewed 30 times

Answer the following:
1. From the above-given data calculate the national income at the current price for the year 2018 and 2019 and 2020 and the Constant price for the year 2020 considering 2019 as a base year. [4 marks]
2. Comment and write a note on National income for 2020 whether it is Real and Illusionary. [1mark]
Product Year 2018 Year 2019 Year 2020 Price Quantity Price Quantity Price Quantity Apple 20 2 20 4 20 Orange 12 N 15 3 15 15 Rice 8 30 10 30 12 30 Bread 3 8 8 15 8 Mobile 100 120 200 120 220 120