The following Table Q3 shows component of Gross Domestic Product (GDP) in ABC country for the year 2018. Table Q3: Gross Domestic Product of ABC country in 2018 Component of Gross Domestic Product (GDP) Consumption on durable and non-durable goods Consumption of services Residential and non-residential investment Change in inventories Corporate profit Transfer payment to household from Government Government RM million 1,600 700 860 - 50 610 150 раy salaries to civil servants 320 370 Export Import Receipt of factor income from the rest of the world Payment of factor income to the rest of the world 230 840 770 Calculate: (i) Gross Domestic Product (GDP) of ABC country using the expenditure approach. (ii) Calculate the Gross National Product of ABC country in 2018.

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A: Hey, Thank you for the question. According to our policy we can only answer 3 subparts per question.…

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A: Since you have asked more than two questions without any preference, we are going to answer the…

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A: A. Net national product (NNP) can be calculated as follows:

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A: Answer: Let us first calculate the net national income at factor cost (NNI at FC): GNP at MP=GDP at…

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A: We will use expenditure method of calculating national income.

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A: Answer -

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A: Answer iv) personal income = National income + Transfer Payments — income tax…

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Q: he table below contains data for country Econoland for the year 2018. $1293 $1717 Household…

A: In the table the government purchase of Econoland has been given.

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A: Given:National Income = $100 billiomNet Domestic Product=$105 billion

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A: Gross domestic product (GDP) by expenditure approach adds up the desired spending by the below four…

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A: The Calculation of GDP is shown below:

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A: GDP is the value of final goods and services produced in the domestic territory in a given year.…

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A: GDP = C + I + G + NX  NX = Net export = Export - Import

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A: Formula used-  GDP = Personal consumption expenditure + Net private domestic investment + Government…

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