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The national accounts of Parchment Paradise are kept on parchment. A fire destroys the statistics office. The accounts are now incomplete but they contain the
The national accounts of Parchment Paradise are kept on parchment. A fire destroys the statistics office. The accounts are now incomplete but they contain the following data:
GDP (income approach): $2,900
Consumption expenditure: $2,000
Indirect taxes less subsidies: $100
Net operating surplus: $500
Investment: $800
Government expenditure: $400
Wages: $2,000
Net exports: -$200
a.Calculate GDP (expenditure approach) and depreciation.
b. Calculate net domestic product at factor cost and the statistical discrepancy.
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