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Use the data below to answer the questions that follow. ( Total marks = 12 ) Item Amount (billions of dollars) Consumption expenditure 400 Government
- Use the data below to answer the questions that follow. (Total marks = 12)
Item Amount (billions of dollars) Consumption expenditure 400 Government purchases 100 Interest and investment income 40 Profit of corporations & public enterprises 80 Income from farms and unincorporated businesses 50 Wages, salaries, and supplementary labour income 350 Capital consumption allowance (depreciation) 60 Investment 150 Exports 56 Imports 36 (Indirect) taxes less subsidies 90
| Item | Amount (billions of dollars) |
| Consumption expenditure | 400 |
| Government purchases | 100 |
| Interest and investment income | 40 |
| Profit of corporations & public enterprises | 80 |
| Income from farms and unincorporated businesses | 50 |
| Wages, salaries, and supplementary labour income | 350 |
| Capital consumption allowance (depreciation) | 60 |
| Investment | 150 |
| Exports | 56 |
| Imports | 36 |
| (Indirect) taxes less subsidies | 90 |
Calculate net exports. (2 marks)
Use the expenditure approach to calculate GDP. (5 marks)
Use the income approach to calculate GDP. (5 marks)
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Environmental Economics
Authors: Barry Field, Martha K Field
5th Edition
0073375764, 9780073375762
