3. a) The following table 2 below refer to the national income of a particular country. Item RM Million Personal consump

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3 A The Following Table 2 Below Refer To The National Income Of A Particular Country Item Rm Million Personal Consump 1 (38.85 KiB) Viewed 30 times

3. a) The following table 2 below refer to the national income of a particular country. Item RM Million Personal consumption expenditure 5,800 Private investment 1,300 Government expenditure 1,500 Net exports 100 Wages and salaries 2.000 Corporate taxes 820 Indirect taxes 320 Net factor income received from abroad (55) Transfer payments 120 Personal taxes 1.000 Capital consumption 320 (2 marks) (4 marks) Explain the difference between GDP and GNP. ii) Calculate the GDP and national income at factor cost b) Given the following table 3 below 2019 Gross National Product at 160 current prices (RM million) Consumer Price Index (CPI) 100 2020 180 105 Calculate The Real Gross National Product for 2020. ii) The rate of economic growth between the year 2019 and 2020. (2 marks) (2 marks) (Total:10 marks)