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GDP calculations. GDP at market price is 200 billion, taxes on production are 22 billion, compensation of employees is 120 billion and subsidies to production
GDP calculations. GDP at market price is 200 billion, taxes on production are 22 billion, compensation of employees is 120 billion and subsidies to production are 2 billion. How large is:
- (a)GDP at basic prices?
- (b)The labour share of income?
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