Item RM (million) 2) The table above shows the transaction in Pinkland last year: a) Calculate Pinkland's GDP. b) What was the value of national income equal to? c) What approach did you use to make this calculation? Тахes 403 Social security contribution 152 Indirect business tax 209 Subsidies 405 Transfer payment 224 Salaries 108 Profits 1008 Dividends 2501 Rental 201 Net factor income 254 Capital consumption Wages 105 578

Item RM (million) 2) The table above shows the transaction in Pinkland last year: a) Calculate Pinkland's GDP. b) What was the value of national income equal to? c) What approach did you use to make this calculation? Тахes 403 Social security contribution 152 Indirect business tax 209 Subsidies 405 Transfer payment 224 Salaries 108 Profits 1008 Dividends 2501 Rental 201 Net factor income 254 Capital consumption Wages 105 578

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter22: Inflation

Section: Chapter Questions

Problem 6SCQ: The Consumer Price Index is subject to the substitution bias and me quality/new goods bias. Are the...

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