Shown below is the Gross Domestic Product (GDP) of a small economy by category of expenditure:
Posted: Sun Jun 05, 2022 11:52 am
Shown below is the Gross Domestic Product (GDP) of a small
economy by category of
expenditure:
J$
(million)
Consumer expenditure
2 800
Government final consumption
750
Gross domestic fixed capital formation
700
New housing
80
Export of goods and services
880
Import of goods and services
1
000
Taxes on expenditure
700
Receipt of factor income from rest of the world
400
Subsidies
120
Payment of factor income to the rest of the world 300
Capital consumption
350
A. Calculate:
i. Net export (2 marks)
ii. GDP at market price (3 marks)
iii. GDP at factor cost (3 marks)
economy by category of
expenditure:
J$
(million)
Consumer expenditure
2 800
Government final consumption
750
Gross domestic fixed capital formation
700
New housing
80
Export of goods and services
880
Import of goods and services
1
000
Taxes on expenditure
700
Receipt of factor income from rest of the world
400
Subsidies
120
Payment of factor income to the rest of the world 300
Capital consumption
350
A. Calculate:
i. Net export (2 marks)
ii. GDP at market price (3 marks)
iii. GDP at factor cost (3 marks)