Question
This is the question that I just done with test. I just want the exact answer so that I can prepare for upcoming test. Thanks
This is the question that I just done with test. I just want the exact answer so that I can prepare for upcoming test. Thanks in advance.
Y country is a closed economy. Its no government imposes, no direct taxes and make no transfer payment or subsidies.
2011 | 2012 | 2013
Rental Income 350| 730 | 740
Gross Investment 1500 | 2200 | 1800
Depreciation 200 | 250 | 180
Proprietor's income 725 | 730 | 740
Factor income from abroad 200 | 250 | 180
Factor income paid to abroad 100 | 80 | 120
Labour wages 550 | 600 | 650
Nett Interest 850 | 975 | 1000
Consumption 1850 | 2000 | 2150
Corporate profits 1155 | 1025 | 1000
Real gdp 3630 | 3213 | 3069
A. Compute GDP at Market Price for country Y from 2011 untuil 2013. (Is it income approach?)
B. Given the GDP at market price for the year 2011-2013 compute the corresponding GDP at factor cost. Computed in part (a)
C. Average price level is 150 in 2011, calculate the average price level for the year 2011-2013.
D. Compute the government spending for the year 2011-2013
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started