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The table below contains a random selection of items from the national account of a country that engages in international trade. Select the necessary items
The table below contains a random selection of items from the national account of a country that engages in international trade. Select the necessary items to compute national income. Items RM Million Consumption expenditure 11 844 Capital consumption 2.000 Government services 9.201 Mining and Quarrying 8.075 Finance, insurance, real estate and business services 9.644 Manufacturing 26.800 Rent 38.000 Subsidies 583 Wholesale and retail trade, hotel and restaurant 11 190 Agriculture, forestry and fishing 15.530 Transport storage & communication 6,480 Construction 3.620 Profit 40.000 Electricity, gas & water 1,931 Tax on expenditure 15.DO0 Net factor payments 4.255 Compute: i. Gross Domestic Product at market price. (4 marks) Gross Domestic Product at factor cost. (1.5 marks) TIL Gross National Product at factor cost. (1 mark) National Income. (1.5 marks) State two difficulties in computing the national income. (2 marks) 2. The following are details from Magicland's national income for the year ending 1999
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