Grossmania gave the following additional information on its national economy Items Billions of dollars Consumer Expenditure 110 Gross fixed capital formation 30 Exports 50 Imports 30 Government Purchases 30 Increasing Stock 150 Indirect taxes 455 Factor incomes going out of the country 50 Factor incomes coming into the country 60 Subsidy 20 Capital consumption 30 Proprietors Income 40 Calculate the following for Grossmania: The Net National Product factor cost
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Grossmania gave the following additional information on its national economy
|
Items |
Billions of dollars |
|
Consumer Expenditure |
110 |
|
Gross fixed capital formation |
30 |
|
Exports |
50 |
|
Imports |
30 |
|
Government Purchases |
30 |
|
Increasing Stock |
150 |
|
Indirect taxes |
455 |
|
Factor incomes going out of the country |
50 |
|
Factor incomes coming into the country |
60 |
|
Subsidy |
20 |
|
Capital consumption |
30 |
|
Proprietors Income |
40 |
Calculate the following for Grossmania:
- The Net National Product factor cost
The Net National Product (NNP) at factor cost is also known as National Income. According to the expenditure method, the national income is the sum of expenditure made on the purchase of final goods and services in an accounting period.
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