Gross national product at factor cost by income method (i) Private final consumption expenditure1,000(ii) Net domestic capital formation200400(iii) Profits(iv) Compensation of employees800(v) Rent250(vi) Government final consumption expenditure500(vii) Consumption of fixed capital60(viii) Interest150(ix) Net current transfers from rest of the world(-) 80(x) Net factor income from abroad(-) 10

The formula for GNPFC by income method:- Rent + interest + profits + compensation of employees +…

(i) Private final consumption expenditure 1,000 200 (ii) Net domestic capital formation 400 (iii) Profits (iv) Compensation of employees 800 250 (v) Rent (vi) Government final consumption expenditure 500 (vii) Consumption of fixed capital 60 (viii) Interest 150 (ix) Net current transfers from rest of the world (-) 80 (x) Net factor income from abroad (-) 10

(i) Private final consumption expenditure 1,000 200 (ii) Net domestic capital formation 400 (iii) Profits (iv) Compensation of employees 800 250 (v) Rent (vi) Government final consumption expenditure 500 (vii) Consumption of fixed capital 60 (viii) Interest 150 (ix) Net current transfers from rest of the world (-) 80 (x) Net factor income from abroad (-) 10

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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