GDP at market prices R397bn Net primary income payments to the rest of R37bn the world Indirect taxes R23bn Subsidies R11bn © The Independent Institute of Education (Pty) Ltd 2020 20 Consumption of fixed capital R32bn

GDP at market prices R397bn Net primary income payments to the rest of R37bn the world Indirect taxes R23bn Subsidies R11bn © The Independent Institute of Education (Pty) Ltd 2020 20 Consumption of fixed capital R32bn

Microeconomics: Principles & Policy

14th Edition

ISBN:9781337794992

Author:William J. Baumol, Alan S. Blinder, John L. Solow

Publisher:William J. Baumol, Alan S. Blinder, John L. Solow

Chapter20: Poverty, Inequality, And Discrimination

Section: Chapter Questions

Problem 2DQ

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Question

1. Calculate the value of gross national income (GNI) at market prices.
2. Calculate the value of net national product (NNI) at market prices

GDP at market prices
R397bn
Net primary income payments to the rest of
R37bn
the world
Indirect taxes
R23bn
Subsidies
R11bn
© The Independent Institute of Education (Pty) Ltd 2020
20
Consumption of fixed capital
R32bn

Definition Definition Monetary value of all goods and services produced in an economy during a financial year. National income also refers to the total income earned by the factors of production during a financial year.

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