Question 1 The table below shows the national income data of a country with a population of 40 million. Using the information in the table below, answer the following questions. Items RM (million) Wages and salaries Export Wholesale and retail Import Public consumption 35 20 13 10 30 Subsidies and financial aid Government expenditure Corporate investment Net property income from abroad 24 40 15 Based on the data given above: a) Calculate the value of GDP using expenditure approach. b) Calculate GDP per capita? c) Differentiate Real GDP and Nominal GDP

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Question 1
The table below shows the national income data of a country with a population of 40 million.
Using the information in the table below, answer the following questions.
Items
RM (million)
Wages and salaries
35
Export
Wholesale and retail
Import
Public consumption
20
13
10
30
Subsidies and financial aid
Government expenditure
Corporate investment
Net property income from abroad
24
40
15
Based on the data given above:
a) Calculate the value of GDP using expenditure approach.
b) Calculate GDP per capita?
c) Differentiate Real GDP and Nominal GDP
Transcribed Image Text:Question 1 The table below shows the national income data of a country with a population of 40 million. Using the information in the table below, answer the following questions. Items RM (million) Wages and salaries 35 Export Wholesale and retail Import Public consumption 20 13 10 30 Subsidies and financial aid Government expenditure Corporate investment Net property income from abroad 24 40 15 Based on the data given above: a) Calculate the value of GDP using expenditure approach. b) Calculate GDP per capita? c) Differentiate Real GDP and Nominal GDP
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