Business, 04.10.2021 19:20 landonreed5803

The following table shows the national income data for an economy in year 2020. ITEM RM (million)

Wholesale and Retail 11 700

Mining and Gas 7 200

Construction 22 105

Manufacturing 15 705

Agriculture and Forestry 11 000

Banking and Insurance 15 000

Factor Payment from Abroad 5 280

Other Services 2 250

Indirect Taxes 650

Factor Payment to Abroad 6 820

Capital consumption 370

a. Based on the above data calculate:

i. Gross Domestic Product at market price

ii. Gross National Product at factor cost

iii. National Income

b. Name the approach used in this national income calculation.

c. List down TWO (2) uses of national income statistics.

Answers: 3

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The following table shows the national income data for an economy in year 2020. ITEM RM (million)<...

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