QUESTION 2 (CLO1) Given that information for Country Omega are as below: Component $ (million) Household consumption 90 Gross investment 30 Government expenditure 40 Export
QUESTION 2 (CLO1) Given that information for Country Omega are as below: Component $ (million) Household consumption 90 Gross investment 30 Government expenditure 40 Export 50 Import 10 Indirect taxes 25 Subsidies 10 Capital depreciation 30 a) Calculate the Gross Domestic Product (GDP) market price for Country Omega (3) b) Calculate the GDP factor cost for Country Omega (3) c) Discuss the various approaches in calculating GDP for a country (9)
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