Use the information in the table below to answer Q.3.1 to Q.3.3: GDP at market prices R397bn Net primary income payments to the rest of the world R37bn Indirect taxes R23bn Subsidies R11bn Consumption of fixed capital R32bn Q.3.3 Calculate the value of net national income (NNI) at factor cost.

Use the information in the table below to answer Q.3.1 to Q.3.3: GDP at market prices R397bn Net primary income payments to the rest of the world R37bn Indirect taxes R23bn Subsidies R11bn Consumption of fixed capital R32bn Q.3.3 Calculate the value of net national income (NNI) at factor cost.

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

Use the information in the table below to answer Q.3.1 to Q.3.3:
GDP at market prices R397bn
Net primary income payments to the rest of
the world
R37bn
Indirect taxes R23bn
Subsidies R11bn

Consumption of fixed capital R32bn

Q.3.3 Calculate the value of net national income (NNI) at factor cost.

Definition Definition Monetary value of all goods and services produced in an economy during a financial year. National income also refers to the total income earned by the factors of production during a financial year.

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