Use the information in the table below to answer GDP at market prices =$397bn Net primary income payments to the rest of the world=$37bn Indirect taxes= $23bn Subsidies =$11bn Consumption of fixed capital= $32bn Calculate the value of gross national income (GNI) at market prices. Calculate the value of the net national product (NNI) at market prices. Calculate the value of net national income (NNI) at factor cost.
Use the information in the table below to answer GDP at market prices =$397bn Net primary income payments to the rest of the world=$37bn Indirect taxes= $23bn Subsidies =$11bn Consumption of fixed capital= $32bn Calculate the value of gross national income (GNI) at market prices. Calculate the value of the net national product (NNI) at market prices. Calculate the value of net national income (NNI) at factor cost.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Use the information in the table below to answer
Net primary income payments to the rest of the world=$37bn
Indirect taxes= $23bn
Subsidies =$11bn
Consumption of fixed capital= $32bn
Calculate the value of gross
Calculate the value of the net national product (NNI) at market prices.
Calculate the value of net national income (NNI) at factor cost.
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