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R millions mption Expenditure 138 nent expenditure 98 ment expenditure 57 ports 64

R millions mption Expenditure 138 nent expenditure 98 ment expenditure 57 ports 64

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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R millions Consumption Expenditure 138 Investment expenditure 98 Government expenditure 57 Net exports 64 Primary income payments to the rest of the 21 world Primary income receipts from the rest of the 13 world Indirect taxes 28 Subsidies 10 Consumption of fixed capital 12 Q.3.1 Calculate the value of gross domestic product (GDP) at market prices. Q.3.2 Calculate the value of gross domestic expenditure.
Transcribed Image Text:R millions Consumption Expenditure 138 Investment expenditure 98 Government expenditure 57 Net exports 64 Primary income payments to the rest of the 21 world Primary income receipts from the rest of the 13 world Indirect taxes 28 Subsidies 10 Consumption of fixed capital 12 Q.3.1 Calculate the value of gross domestic product (GDP) at market prices. Q.3.2 Calculate the value of gross domestic expenditure.
Expert Solution
Step 1

3.1)      GDP MP = C + I + G +NX

                                           where , C = Consumption expenditure

                                                        I = Investment Expenditure

                                                       G= Government Expenditure

                                                        NX = Net exports 

 

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