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May u help me solve the question include the explanation too so that I can understand the answer later. Thankyou! This section consists of FIVE
May u help me solve the question include the explanation too so that I can understand the answer later. Thankyou!
This section consists of FIVE multiple choice questions. Please choose the correct answer. You can select more than one answer. 1 State the formula of National Income at Factor Cost. A National Income at market price - market price B National income at market price + net subsidies C National income at market price - net indirect tax D National income at market price - indirect tax + subsidies 2 Net Factor Income from Abroad= A National income - net indirect taxes B National income - Domestic income C Factor income from abroad - factor income paid abroad D National income - net subsidies 3 Which of the following is one of the component of profit? A Undistributed profit B Dividend C Corporation profit tax D None of these 4 = Net Domestic Product at market price (NDPmp) + Net Factor income from abroad( NFIA) - Net indirect tax A GNPmp B GNPfc C NNPfc D NNPmp 5 The average income of the country is Real National Income B Per capita income C Disposable income D Personal incomeQUESTION 1 (20 marks) The table below shows National income data for a country. Items RM million Household consumption 45 150 Gross interest 7 500 Rental 8 750 Depreciation 3 900 Wages and Salaries 31100 Gross Investment 7 250 Dividend 8100 Government expenditure 10 600 Corporate tax 550 Indirect taxes 7 275 Undistributed profit 2000 subsidies 1 175 Export 25 675 Import 23 175 Net factor income from abroad 5 500 Social security contribution 180 Personal income tax 5 090 Transfer payments 1 150 Interest on consumer loan 1500 Interest on government loan 1000 2 Based on the above data, calculate: I. Gross Domestic Product at market price (GDPmp) using expenditure approach. (3.5 Marks) II. Gross National Product at factor cost (GNPfc) ( 3 Marks ) III. NI using income approach. (5.5 Marks ) IV. Personal income. (4.5 marks) V. Corporate profit (2.5 Marks) VI. Disposable income (1 mark)QUESTION 2 The following table shows the national income for a country. Items RM Million Gross National Product at factor cost 77 400 National income 76 000 Transfer payment 5000 Gross interest 3400 Social security contribution 2000 Corporate tax 6000 Retained earning 890 Personal income tax 1500 subsidies 3000 Net subsidies 1900 Net factor income from abroad 7150 Based on the above data, calculate: I. Gross National Product at market price (GNPmp) II. Gross Domestic Product at markt price (GDPmp) III. Diposable Income. IV. Indirect tax V. DepreciationStep by Step Solution
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