B Use The Following Data In Billions Of Dollars For The Given Year To Calculate The 719 279 Export Of Goods Import O 1 (26.21 KiB) Viewed 55 times
B Use The Following Data In Billions Of Dollars For The Given Year To Calculate The 719 279 Export Of Goods Import O 2 (38.51 KiB) Viewed 55 times
B. Use the following data (in billions of dollars for the given year) to calculate the: 719 279 Export of goods Import of goods Export of services Import of services 1 145 210 i. balance of trade (2 marks) (4 marks) ii. balance on the current account. Interpret the result. Jamaica has, for many years, been experiencing a deficit on its current account. Describe TWO (2) factors that could have contributed to this ongoing problem. (6 marks) D. Recommend TWO (2) measures the Jamaican government could take to curb its BOP deficit. (6 marks)
Shown below is the Gross Domestic Product (GDP) of a small economy by category of expenditure: J$ (million) Consumer expenditure 2800 Government final consumption 750 700 Gross domestic fixed capital formation New housing 80 Export of goods and services 880 Import of goods and services 1 000 Taxes on expenditure 700 400 Receipt of factor income from rest of the world Subsidies 120 300 Payment of factor income to the rest of the world Capital consumption 350 A. Define GDP. (2 marks) B. Calculate: i. Net export (2 marks) ii. GDP at market price (3 marks) iii. GDP at factor cost (3 marks) C. Provide an explanation for TWO (2) of the elements used to calculate GDP using the expenditure method. (4 marks) D. Describe TWO (2) limitations and ONE (1) use of national income. (6 marks) (Total 20 marks)
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