Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The table below shows Gross Domestic Product (GDP) by category of expenditure. JA ($Million) Consumer expenditure 280 Government final consumption 750 Gross domestic fixed capital

The table below shows Gross Domestic Product (GDP) by category of expenditure.

JA ($Million)

Consumer expenditure

280

Government final consumption

750

Gross domestic fixed capital formation

700

New housing

80

Export of goods and services

880

Import of goods and services

1000

Taxes on expenditure

700

Receipt of factor income from rest of the world

400

Subsidies

120

Payment of factor income to the rest of the world

300

Capital consumption

350

From the information in the table, calculate:

a) Net export

b) Gross domestic product (GDP) at the market price

c)Gross domestic product (GDP) at factor cost

d)Gross national product (GNP) at factor cost

e) Net national product (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

Step: 3

blur-text-image

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

Introduction To Health Care Management

Authors: Sharon B. Buchbinder, Nancy H. Shanks

3rd Edition

9781284081015

Students also viewed these Economics questions

Question

ciphertexts:...

Answered: 1 week ago