1. The following data refers to the National Income of a particular country for the

year ended 31st December 2019.

Table 1: National Income Data

ITEMS RM MILLION

Telecommunication 40,000

Tourism 21,000

Agriculture 34,000

Education 150,000

Transportation 70,000

Electricity, gas and water 10,000

Indirect tax 15,000

Subsidies 13,000

Factor Income From Abroad 18,000

Factor Income Paid Abroad 50,000

Depreciation 20,000

a. Calculate:

i. Gross domestic product (GDP) at market price.

ii. Gross national product (GNP) at factor cost.

iii. National income.

b. List THREE (3) methods to calculate national income.

2. Table 2 shows the money supply for Country Orlando in year 2019.

Table 2: Money Supply for Country Orlando

ITEMS RM MILLION

Token money 5,000

Paper money 3,000

Demand deposits 8,000

Saving deposits in commercial banks 7,000

BNM certificate by finance companies 6,000

Fixed deposits in commercial banks 2,000

New negotiable certificates by RHB Bank Bhd 8,000

Fixed deposit in insurance companies 19,000

Repurchase agreements (Repos) placed with commercial

banks 5,000

Repurchased Agreements (Repos) placed with other

financial institutions 8,000

a.Calculate:-

i. Fiat money.

ii. M1, M2 and M3.

iii. Near quasi money.

iv. Broad quasi money.

b. List THREE (3) characteristics of money.

3.Table 3 shows the total population and labour statistics in 2017 and 2018.

Table 3 : Total Population and Labour Statistic 2017 and 2018

TYPE OF PEOPLE 2017

(MILLION) 2018

(MILLION)

Employed 6,500 1,500

Unemployed 750 700

Above 64 years old 250 400

Full time student 150 350

Housewives 200 170

Pensioners 40 100

Disabled 120 20

a.Calculate :

i.Total number of people in the labour force for both years.

ii.Total number of person NOT in the labour force for 2017 and 2018.

b.The population is 50 million, the labour force is 26 million, and the number

of employed is 23.5 million. Calculate the unemployment rate.

c. List FIVE (5) effects of unemployment on individual and society.

4.Table 4 shows the recent figures for the production of Palm Oil and Rubber in

Malaysia and Qatar.

Table 4: The production of Palm Oil and Rubber

COUNTRY PALM OIL RUBBER

MALAYSIA 1800 2800

QATAR 4000 900

a. Which country has the absolute advantage in the production of Palm Oil and

Rubber?

b. Calculate the opportunity cost of producing one ton of palm oil and one ton of

rubber by each country?

c. Construct the table after specialization.

d. If trade agreement is negotiated, at what rate would they agree to exchange?

5.Data on Balance of Payment for Country M is shown in Table 5.

Table 5 : Balance of Payment for Country M

ITEMS RM million

Export 50,000

Import 15,000

Current transfer 20,000

Error and omissions 23,000

Private investment 5,000

Education 5,000

Investment income 3,000

Government transactions 17,000

Other services 10,000

Long term capital account 12,000

Insurance services 15,000

Based on the given information, calculate :

a. a.Trade balance.

b.Service account balance.

c.Balance on current account.

d.Overall balance.