B. The table below lists Jamaica's transactions in 2007. Particulars $ Consumers' expenditure 100 000 Government expenditure 40 000 Gross investment 37 000 Value of increase in stock 2 000 Exports of goods 18 000 Imports of goods 17 130 Income paid abroad 7 400 Income received from abroad 7 900 Subsidies 1 390 Taxes on expenditure 1 740 Capital consumption 5 500 Calculate: i. GDP at market price 11. GDP at factor cost 111. GNP at factor cost

B. The table below lists Jamaica's transactions in 2007. Particulars $ Consumers' expenditure 100 000 Government expenditure 40 000 Gross investment 37 000 Value of increase in stock 2 000 Exports of goods 18 000 Imports of goods 17 130 Income paid abroad 7 400 Income received from abroad 7 900 Subsidies 1 390 Taxes on expenditure 1 740 Capital consumption 5 500 Calculate: i. GDP at market price 11. GDP at factor cost 111. GNP at factor cost

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

B. The table below lists Jamaica's transactions in 2007.
Particulars
$
Consumers' expenditure
100 000
Government expenditure
40 000
Gross investment
37 000
Value of increase in stock
2 000
Exports of goods
18 000
Imports of goods
17 130
Income paid abroad
7 400
Income received from abroad
7 900
Subsidies
1 390
Taxes on expenditure
1 740
Capital consumption
5 500
Calculate:
i. GDP at market price
11. GDP at factor cost
iii. GNP at factor cost
iv. National Income at factor cost
C. Comment on THREE (3) types of information that national income statistics provide.

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