Question6:(3marks)

Assume an economy is producing only one product and that year 3 is the base year. Outputandpricedataforafive-yearperiodareasfollows.Answer thenextquestionsbasedonthesedataandifanswers have decimalsroundto two decimal places.

Year	Units ofOutput	Price per Unit(rand)
1	30	30
2	40	40
3	60	50
4	70	70
5	80	80

a.) If year 3 is chosen as the base year, the price index for year 1 isb.)Referto theabovedata. Thenominal GDPforyear 4is

c.)Real GDPfor year 5is

Question7:(2marks)

Use the following table to answer the questions below:Ifanswershavedecimalsroundtotwodecimalplaces

GDP@Factor Costs	R1200 000
TaxesonProduction	R50000
OtherTaxesonProducts	R100000
SubsidiesonProduction	R100000
Othersubsidiesonproduction	R150000

a.) Calculate GDP @ Basic Pricesb.)CalculateGDP@Market Prices

Question8:(3marks)

Usethefollowingtabletoanswer thecalculationquestions below:

Ifanswers havedecimalsroundtotwodecimalplaces

The following national income data are in billions of rand Consumption of fixed capital R 80 Consumption (Disposable income) 500 Government Expenditure 100 Net private domestic 80 investment S.A. imports 15 National income 300 Personal taxes 30 Exports 25 Gross private domestic 100 investment Net foreign factor income 10