The national accounts of Parchment Paradise are kept on (you guessed it) parchment. A fire in the
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The national accounts of Parchment Paradise are kept on (you guessed it) parchment. A fire in the statistics office destroys some accounts, leaving only the following data:
• GDP (income approach) $2,900
• Consumption expenditure $2,000
• Indirect taxes less subsidies $100
• Interest, rent, and profit $500
• Investment $800
• Government expenditure $400
• Wages $2,000
• Net factor income from abroad $50
• Net exports –$200
Calculate GDP (expenditure approach) and depreciation.
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