Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 12, 2024

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.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Microeconomics and Its Application

Authors: walter nicholson, christopher snyder

11th edition

9781111784300, 324599102, 1111784302, 978-0324599107

Students also viewed these Economics questions

Question

★★★★★

You are one of two member nations of OOEC: the Organization of Otter Exporting Countries, a cartel designed to artificially restrict otter output in an attempt to generate monopoly profits. Demand...

Answered: 1 week ago

Question

★★★★★

For problem #2 calculate the low back compressive forces incurred the performance of this job using the University of Michigan 3-Dimensional Static Strength Prediction Model.

Answered: 1 week ago

Question

★★★★★

Were any of the authors students?

Answered: 1 week ago

Question

★★★★★

Blue Ribbon Fisheries is a fishing company located on the Canadian Pacific coast. It has three divisions: a. Harvesting-operates a fleet of 20 trawling vessels. b. Processing-processes the raw fish...

Answered: 1 week ago

Question

★★★★★

Pack-and-Go, a new competitor to FedEx and UPS, does intra-city package deliveries in seven major metropolitan areas. The performance of Pack-and-Go is measured by management as: (1) delivery time...

Answered: 1 week ago

Question

★★★★★

az The following information is available from the adjusted trial balance of the Harris Vacation Rental Agency. After closing entries are posted, what will be the balance in the Retained earnings...

Answered: 1 week ago

Question

★★★★★

1. What is AAPT? 2. What is an Income Statement? 3. What is probability? 4. What is democracy? 5. Which elements can occur only once and must be present? 6. What is a Cash Flow Statement?: What is...

Answered: 1 week ago

Question

★★★★★

Question: Enumerate the steps in creating a bounded service through AIDL. What is the use of an activityCreator? What do you think are some disadvantages of Android? What is Newton's first law of...

Answered: 1 week ago

Question

★★★★★

The function f(x,y)=x 2 +xy+y 2 -22y+161 What is the relative maximum value of the function?

Answered: 1 week ago

Question

★★★★★

Differentiate 3sin(9x+2x)

Answered: 1 week ago

Question

★★★★★

Compute the derivative f(x)=(x-a)(x-b)

Answered: 1 week ago

Question

★★★★★

In the assimilation process, how a new employee influences the organization is called: socialization. individualization. Leader-Member Exchange Theory. role-taking

Answered: 1 week ago

Previous Question Next Question