economics 120

QUESTION 1 The data below shows the national income data for Country Aman in 2010 with a population of 25 million. ITEMS RM BILLION Mining and quarrying 16000 Agriculture 9000 Forestry 6000 Government expenditure 12000 Hotel and restaurants 17000 Manufacturing 24000 Insurance 4500 Taxes on expenditures 600 Education 19000 Construction 21000 Capital consumption 5000 Nat factor payment (12000) Subsidies 9000 Income tax 1500 Employee Provident Fund (EPF) 5500 Transfer payment 2500 a) Define Gross Domestic Product b ) Gross Domestic Product at market price c) Gross Natoinal Product at market price d) Gross Natoinal Product at factor price e) National Income