QUESTION 1

The data below shows the national income for Country WOO in 2015 with a population of RM 20 million.

ITEMS	RM (million)
Forestry	16000
Mining and Quarrying	9000
Agriculture	6000
Government Expenditure	8000
Manufacturing	17000
Insurance	24000
Hotel and Restaurant	4500
Taxes on Expenditures	6000
Construction	19000
Education	21000
Capital Consumption	5000
Net factor payment	(12000)
Subsidies	9000

Calculate:

1. Gross Domestic Product at market price.
2. Gross National Product at market price.
3. Gross National Product at factor cost.
4. National income

QUESTION 2

The following schedule shows the national income data for Country REA in year 2018

ITEMS	RM (million)
Fishery	12000
Mining and Quarrying	36000
Manufacturing	98000
Construction	9000
Electricity, Gas and Water	3500
Transportation, Storage and Communication	19000
Wholesale and Retail Trade	25000
Factor Income from Abroad	16000
Factor Income to Abroad	8000
Capital Consumption	7000
Sales Taxes	600
Subsidies	800

Calculate:

1. Define Gross Domestic Product

b) Gross Domestic Product at market price.

c) Gross National Product at market price.

d) National income