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The following table shows the value of economic activities of a country in 2020. Items RM (Million) Finance, insurance, real estate and business service 4,750

The following table shows the value of economic activities of a country in 2020.

Items RM (Million)
Finance, insurance, real estate and business service 4,750
Private expenditure 10,000
Rent 20,000
Government expenditure 6,000
Agriculture 11,400
Mining and quarrying 4,000
Transport, storage and communication 3,700
Wholesale and retail 6,300
Manufacturing 12,500
Profit 23,300
Depreciation 1,000
Corporate income tax 6,250
Taxes on expenditure 7,500
Net factor income abroad 3,450
Subsidies 445
Personal income tax 125
Social contribution 50
Employee Provident fund 170
Transfer payment 700

a. Calculate:

i. Gross domestic product at factor cost (2 marks)

ii. Gross national product at factor cost (2 marks)

iii. National Income (2 marks)

iv. Personal Income (2 marks)

v. Disposable personal income (2 marks)

b. Define national Income (2 marks)

c. Discuss FOUR (4) uses of national income statistics (8 marks)

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