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Economics. Answer following the questions. The following information is about a country's national income accounting data for a certain year. ITEMS RM (MILLIONS) 4,750 Finance,

Economics. Answer following the questions.

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The following information is about a country's national income accounting data for a certain year. ITEMS RM (MILLIONS) 4,750 Finance, insurance, real estate and business service Private expenditure 10,000 Rent 20,000 Government expenditure 5,000 Agriculture 11,400 Mining and quarrying 4,000 Transport, storage and communication 3,700 Dividens receive by individual 550 Whosale and retail trade 6,300 Manufacturing 12,500 Profit 23,100 Capital consumption allowances 1,000 Corporate income taxes 5,250 Taxes on expenditure 7,500 Net factor income receive from abroad 3,450 subsidies 445 Personel income taxes 125 Social contribution 50 Employee provident fund 170 Transfer payment 700 Calculate: a) Gross domestic product at market price (4M) b) Gross domestic product at factor cost (3M) c) Gross National product at factor cost (3M) d) National income (3M) e) Personal income (4M) f) Disposable personal income (3M) g) There are three method to calculate national income. What method is the above.(2M) h) Do you think GDP reflect standard of living country? Justify.(3M)

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