Question
The list below provides some national income figures for the country of Econoland. All figures are in millions of dollars. (4 marks) Wages and salaries
- The list below provides some national income figures for the country of Econoland. All figures are in millions of dollars. (4 marks)
Wages and salaries
5000
Interest Income
200
Personal consumption
3900
Personal savings
1100
Personal income taxes
200
Business profits
465
Indirect taxes
175
Subsidies
30
Government purchases
1000
Exports
350
Imports
390
Net private investment
950
Depreciation
150
a)Using the expenditure approach, what is the value of GDP in Econoland?
b)Using the income approach, what is the value of GDP?
c)What is the value of net domestic income at factor cost?
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Macroeconomics
Authors: Christopher T S Ragan
15th Edition
013391044X, 978-0133910445
