Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following are expenditures on goods and services in US in 2017. All figures are in millions of dollars. Population is 27 million. Fixed investment

The following are expenditures on goods and services in US in 2017. All figures are in millions of dollars. Population is 27 million. Fixed investment = 2500 Durable goods = 3000 Imports = 3560 Factor income from abroad = 1500 Inventories = 1020 Government expenditures = 4050 Non durable goods = 1890 Factor income to abroad = 4500 Services = 1630 Exports = 1500 Subsidies = 1040 Capital consumption allowance = 1080 Indirect taxes = 2580 Find i. GDP at market price ii. GDP at factor cost ili. GDP per capita (at factor cost) iv. GNP (at factor cost) v. NNP (at factor cost)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Labor Economics

Authors: George J. Borjas

6th edition

73523208, 2900073523209 , 978-0073523200

More Books

Students also viewed these Economics questions

Question

6. What information processes operate in communication situations?

Answered: 1 week ago

Question

3. How can we use information and communication to generate trust?

Answered: 1 week ago