From the following data for Country X, you are required to calculate:

a.i. GDP at factor cost(6 marks)

ii.GNP at factor cost(2 marks)

iii.NNP (2 marks)

Total consumer expenditure400 000

Government spending148 000

Gross domestic capital formation160 000

Value of physical increases in stock8 000

Export of goods72 000

Import of goods68 520

Subsidies5 560

Taxes on expenditure6 960

Capital consumption22 000

Income from abroad31 600

Income paid abroad29 600

b.Discuss two uses of the National Income statistics (6 marks)

c.Explain why 'transfer payments' are excluded from National Income calculations

(4 marks)

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