Homework Help is Here – Start Your Trial Now!
Business
Economics
Question 2 The table below shows the calculation of national income for country Z. Items Wages and salaries RM (million) 400 Wholesale and retail 200 Income from rent, dividend and interest 150 Profit 250 Transfer payment 50 Construction 100 Corporate tax 60 Capital Consumption Banking and insurance Mining and gas Private Investment Personal Income Tax Employees Provident Fund Net factor income abroad 40 400 100 900 10 60 700 Based on the data given above: a) Calculate the value of GDP using income the approach.

Question 2 The table below shows the calculation of national income for country Z. Items Wages and salaries RM (million) 400 Wholesale and retail 200 Income from rent, dividend and interest 150 Profit 250 Transfer payment 50 Construction 100 Corporate tax 60 Capital Consumption Banking and insurance Mining and gas Private Investment Personal Income Tax Employees Provident Fund Net factor income abroad 40 400 100 900 10 60 700 Based on the data given above: a) Calculate the value of GDP using income the approach.

ECON MACRO
ECON MACRO
5th Edition
ISBN:9781337000529
Author:William A. McEachern
Publisher:William A. McEachern
Chapter3: Economic Decision Makers
Section: Chapter Questions
Problem 3.11P
See similar textbooks
icon
Related questions
Question

Kindly give me the steps one by one how to do its and the calculation of the answers 

Question 2 The table below shows the calculation of national income for country Z. Items Wages and salaries RM (million) 400 Wholesale and retail 200 Income from rent, dividend and interest 150 Profit 250 Transfer payment 50 Construction 100 Corporate tax 60 Capital Consumption Banking and insurance Mining and gas Private Investment Personal Income Tax Employees Provident Fund Net factor income abroad 40 400 100 900 10 60 700 Based on the data given above: a) Calculate the value of GDP using income the approach.
Transcribed Image Text:Question 2 The table below shows the calculation of national income for country Z. Items Wages and salaries RM (million) 400 Wholesale and retail 200 Income from rent, dividend and interest 150 Profit 250 Transfer payment 50 Construction 100 Corporate tax 60 Capital Consumption Banking and insurance Mining and gas Private Investment Personal Income Tax Employees Provident Fund Net factor income abroad 40 400 100 900 10 60 700 Based on the data given above: a) Calculate the value of GDP using income the approach.
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
ECON MACRO
ECON MACRO
Economics
ISBN:
9781337000529
Author:
William A. McEachern
Publisher:
Cengage Learning
Principles of Economics 2e
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Microeconomics (MindTap Course List)
Principles of Microeconomics (MindTap Course List)
Economics
ISBN:
9781305971493
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Principles of Economics, 7th Edition (MindTap Cou…
Principles of Economics, 7th Edition (MindTap Cou…
Economics
ISBN:
9781285165875
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS