The national accounts of Parchment Paradise are kept on (you guessed it) parchment. A fire destroys the statistics office. The accounts are now incomplete but they contain the data in the table. Item Dollars GDP (income approach) Consumption expenditure Indirect taxes less subsidies Other factor incomes 2,900 2,000 100 500 Calculate net domestic income at factor cost and the statistical discrepancy. Net domestic income at factor cost is $ 800 Investment Government expenditure Wages Net exports 400 The statistical discrepancy is $ 2,000 -200

The national accounts of Parchment Paradise are kept on (you guessed it) parchment. A fire destroys the statistics office. The accounts are now incomplete but they contain the data in the table. Item Dollars GDP (income approach) Consumption expenditure Indirect taxes less subsidies Other factor incomes 2,900 2,000 100 500 Calculate net domestic income at factor cost and the statistical discrepancy. Net domestic income at factor cost is $ 800 Investment Government expenditure Wages Net exports 400 The statistical discrepancy is $ 2,000 -200

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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