FileToolsViewEXERCISE 2 FOR NATIONAL INCOME [Compatibility Mode] - WordQUESTION 21i. Gross domestic product at factor cost.The following data refers to the National Income of Country XYZ for January 2020.11i. National income.Table 2: National Income Data for Country XYZ in January 2020ITEMSUSDMILLIONHousehold consumption3,500iv. Personal income.Private investment3,000Government expenditure2,250Еxport3,500Import750v. Disposable income.Factor income received from abroad1500Factor income paid abroad3750Taxes on expenditure2250Subsidiesb. List FOUR (4) problems calculating national income.2000Depreciation800Transfer payments1250Corporate income taxes850Retained earnings650Employees Provident Fund80Social Security Contributions550Personal income taxes1750End of documentIa. Calculate:i. Gross domestic product (GDP) at market price.Screens 3-4 of 4100% FileToolsViewEXERCISE 2 FOR NATIONAL INCOME [Compatibility Mode] - WordElectricity, gas, and water64,000Indirect tax36,000KUPTMSubsidies220,000Wages and salaryKOLEJ UNIVERSITI POLY-TECH MARA KUALA LUMPUR-32,000ЕСОЗ033/ ЕСO201 - ЕCONOMICSCalculate:EXERCISE FOR CHAPTER 6: NATIONAL INCOMEi.Gross domestic product (GDP) at market price.QUESTION 1Table 1 shows the national income for Zimbabwe in December 2020.11.Gross national product (GNP) at market price.Table 1: National Income Statistics for Zimbabwe in December 2020.ITEMSRM MILLIONAgriculture48,000Mining and quarrying10,000iii.111.Gross national product (GNP) at factor cost.Education12,000Military64,000Telecommunication84,000Net payment from abroad240,000iv.National incomeCapital consumption60,000Tourism92,000Screens 1-2 of 4100%

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Electricity, gas, and water 64,000 Indirect tax 36,000 KUPTM Subsidies 220,000 -32,000 KOLJ UNVERSm POLTECH MARA KUALA LUMPU Wages and salary ECO3033/ ECO201 - ECONOMICS Calculate: EXERCISE FOR CHAPTER 6: NATIONAL INCOME i. Gross domestic product (GDP) at market price. QUESTION 1 Table 1 shows the national income for Zimbabwe in December 2020. ii. Gross national product (GNP) at market price. Table 1: National Income Statistics for Zimbabwe in December 2020. ITEMS RM MILLION Agriculture 48,000 Mining and quarrying 10,000 ii. Gross national product (GNP) at factor cost. Education 12,000 Military 64,000 Telecommunication 84,000 Net payment from abroad 240,000 iv. National income Capital consumption 60,000 Tourism 92,000

Electricity, gas, and water 64,000 Indirect tax 36,000 KUPTM Subsidies 220,000 -32,000 KOLJ UNVERSm POLTECH MARA KUALA LUMPU Wages and salary ECO3033/ ECO201 - ECONOMICS Calculate: EXERCISE FOR CHAPTER 6: NATIONAL INCOME i. Gross domestic product (GDP) at market price. QUESTION 1 Table 1 shows the national income for Zimbabwe in December 2020. ii. Gross national product (GNP) at market price. Table 1: National Income Statistics for Zimbabwe in December 2020. ITEMS RM MILLION Agriculture 48,000 Mining and quarrying 10,000 ii. Gross national product (GNP) at factor cost. Education 12,000 Military 64,000 Telecommunication 84,000 Net payment from abroad 240,000 iv. National income Capital consumption 60,000 Tourism 92,000

Survey of Economics (MindTap Course List)

9th Edition

ISBN:9781305260948

Author:Irvin B. Tucker

Publisher:Irvin B. Tucker

Chapter11: Gross Domestic Product

Section: Chapter Questions

Problem 13SQ

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Question: What is the aggregate of the gross balances of primary income of all resident institutional units knows as?[A] Gross domestic Product[B] Gross national product[C] Gross National income[D] Net national productPlease Don't use chatgpt or other ai tool. If you know correct answer then attempt if you gave wrong answer then i gave 13 dislikes for you and more from my friends accounts also.
National Income DeterminationThe following figures are from data on Good Island EconomyItems $mNet private investment 940Depreciation 56Compensation of employees 2 256Corporate taxes 416Personal taxes 756Personal Consumption expenditure 4 386Government purchases 3 182Indirect business taxes minus subsidies 482Payment of factor income to the rest of the world 95Corporate profits minus dividends 56Government transfer payments and interest 243Exports 855Receipts of factor income from abroad 186Imports of goods and services 385Social insurance payments 332 Required: Use the above information to answer the followingi.) Calculate for Good Island:a. Gross private investment b. Gross Domestic product c. Gross National Product d. Net National Product e. National income f. Personal Income g. Disposable Personal Income
Q.No.4. Compare and contrast product, income, and expenditure methods of measuring National Income in detail. Also exemplify at least three (3) problems of each method?
Compute the GNP using the Income Approach and Expenditure Approach. Personal Consumption ExpendituresP 1,059,000 Compensation of employees and entrepreneurial & propertyIncome of persons980,000 Government Income31,000 Indirect Taxes132,500 Exports of goods and non-factor services648,200 Fixed Capital Formation232,400 Government Services116,000 Imports of goods and non-factor services648,100 Subsidies3,900 Trade237,000 Increase in Stocks7,200 Corporate Income16,000 Depreciation Allowance176,000 General Government Consumption Expenditures86,500 Net Factor Income From Abroad20,600