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You are given the following information for a certain economy: $B Compensation of Employees Net Interest Income Depreciation Indirect Taxes Subsidies Corporate Profits Proprietor's
You are given the following information for a certain economy: $B Compensation of Employees Net Interest Income Depreciation Indirect Taxes Subsidies Corporate Profits Proprietor's Income Rental Income Payments of Factor Income to the Rest of the World Receipt of Factor Income from the Rest of the World Use the information above to calculate: A. B. C. 240 50 15 100 i. National Income ii. Indirect Taxes minus Subsidies iii. Net Factor Payments to the Rest of the World iv. GDP 80 350 100 210 450 300 (3 marks) (3 marks) (3 marks) (3 marks) Outline TWO (2) uses of National Income statistics. (6 marks) Explain FOUR (4) limitations that these statistics have, in determining a country's economic welfare. (12 marks)
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