Question 1 Given the following data for a country A for the year ended December 2021 Items Private expenditure Government expenditure Gross private investment Gross government investment Increase in stock Net Export Wage and salaries Interest, rent and dividend Net factor income from abroad Depreciation RM Million 5000 4400 1000 1200 300 1100 4000 2000 140 380 Indirect taxes 1700 Subsidies 1600 Calculate: a) GDP at market price b) GDP at factor cost
Question 1 Given the following data for a country A for the year ended December 2021 Items Private expenditure Government expenditure Gross private investment Gross government investment Increase in stock Net Export Wage and salaries Interest, rent and dividend Net factor income from abroad Depreciation RM Million 5000 4400 1000 1200 300 1100 4000 2000 140 380 Indirect taxes 1700 Subsidies 1600 Calculate: a) GDP at market price b) GDP at factor cost
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter19: The Macroeconomic Perspective
Section: Chapter Questions
Problem 25CTQ: Cross country comparisons of GDP per capita typically use purchasing power parity equivalent...
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![Question 1
Given the following data for a country A for the year ended December 2021
Items
Private expenditure
Government expenditure
Gross private investment
Gross government investment
Increase in stock
Net Export
Wage and salaries
Interest, rent and dividend
Net factor income from abroad
Depreciation
Indirect taxes
Subsidies
RM Million
5000
4400
1000
1200
300
1100
4000
2000
140
380
1700
1600
Calculate:
a) GDP at market price
b) GDP at factor cost
c) GNP at factor cost
d) GNI at factor cost
e) What is the country's economic growth for the year 2021, the price index for the year 2021
is 104.5 and the real national income for 2020 as calculated from the table above.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F3462ac91-b564-4ce8-8dbe-80a55ce0b253%2Fec1f717c-f7df-4dac-9ce5-83836d52b513%2F18o7jhq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Question 1
Given the following data for a country A for the year ended December 2021
Items
Private expenditure
Government expenditure
Gross private investment
Gross government investment
Increase in stock
Net Export
Wage and salaries
Interest, rent and dividend
Net factor income from abroad
Depreciation
Indirect taxes
Subsidies
RM Million
5000
4400
1000
1200
300
1100
4000
2000
140
380
1700
1600
Calculate:
a) GDP at market price
b) GDP at factor cost
c) GNP at factor cost
d) GNI at factor cost
e) What is the country's economic growth for the year 2021, the price index for the year 2021
is 104.5 and the real national income for 2020 as calculated from the table above.
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