Question
(a)The information given below is obtained from the national income accounting records for country A in a particular year. Components RM (Million) Household consumption (C)
(a)The information given below is obtained from the national income accounting records for country A in a particular year.
Components
RM (Million)
Household consumption (C)
35,350
Public and private gross investments (I)
8,150
Government expenditure (G)
10,000
Change in inventory (I)
-
Export of goods and services (X)
23,900
Import of goods and services (M)
20,400
Net factor income from abroad
-7,000
Indirect taxes
5,950
Subsidies
850
Depreciation
2,900
Based on the table above, find the:
(i)Gross domestic product at market price (GDPmp)(4 marks)
(ii)Gross national product at market price (GNPmp)(3 marks)
(iii)Gross national product at factor cost (GNPfc) (3 marks)
(iv)Net national product at factor cost (NNPfc)(3 marks)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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