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10.The following data is from a National Income Account: PARTICULARSMILLIONS OF DOLLARS Compensation to employees3,000 Gross profit500 Gross rent and interest100 Mixed incomes90 Taxes on

10.The following data is from a National Income Account:

PARTICULARSMILLIONS OF DOLLARS

Compensation to employees3,000

Gross profit500

Gross rent and interest100

Mixed incomes90

Taxes on products150

Subsidies on products60

a.Calculate the gross value added.

b.What is the Gross Domestic Product (at market prices)?

11.Give any three reasons why the GDP may be a poor indicator of a society's well-being.

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