Answer Happy

0.0 59.4 1. Using the following national income accounting data for Bahrain in year 2020. Exports of goods and services 17.8 Personal taxes 405 Statistical discrepancy Government purchases Compensation of employees 1942 Depreciation ILS Imports of goods and services 165 Personal consumption expenditures 219.1 Transfer payment 13.9 Net private domestic investment 52.1 Net foreign factor income 22 Taxes on production and imports 14.4 a. Required: Apply advance level skill in measuring output and national income theory to calculate the following: (5 marks) GDP by both the expenditures (2 marks) b. National Domestic Product (1 mark) c. National income (2 marks) 2. To determine GDP using the expenditure approach, it needs to add up all the spending on final goods and services that has taken place throughout the year. One of the item is investment as tangible physical objects that help to produce goods and services. Required: (5 marks) 1. Use a range approaches to compare between gross private domestic investment and net private domestic investment (2 marks) b. If you were to determine net domestic product through expenditure approach, which one is better gross private domestic or net private domestic investment? Justify your answer (3 marks)