1) The data below shows the value of economic activities of a country in year 2017.ItemsRM (Million)Agriculture and miningConstructionIncome from abroadManufacturingGas and electricityBanking and finance250650200350300150240Government servicesWholesales and retailsFreight and transportationIncome to abroadDepreciationSubsidiesIndirect taxes17019053090124270Calculate:(a)Gross Domestic Product at market price.(b)Gross Domestic Product at factor cost.(c)Gross National Product at factor cost.(d)National Income.

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The data below shows the value of economic activities of a country in year 2017. RM (Million) Items Agriculture and mining Construction Income from abroad Manufacturing Gas and electricity Banking and finance Government services 250 650 200 350 300 150 240 Wholesales and retails Freight and transportation Income to abroad Depreciation Subsidies Indirect taxes 170 190 530 90 124 270 Calculate: (a) Gross Domestic Product at market price. (b) Gross Domestic Product at factor cost. (c) Gross National Product at factor cost. (d) National Income.

The data below shows the value of economic activities of a country in year 2017. RM (Million) Items Agriculture and mining Construction Income from abroad Manufacturing Gas and electricity Banking and finance Government services 250 650 200 350 300 150 240 Wholesales and retails Freight and transportation Income to abroad Depreciation Subsidies Indirect taxes 170 190 530 90 124 270 Calculate: (a) Gross Domestic Product at market price. (b) Gross Domestic Product at factor cost. (c) Gross National Product at factor cost. (d) National Income.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter19: The Macroeconomic Perspective

Section: Chapter Questions

Problem 5SCQ: According to Table 19.7, how often have recessions occurred since the end of World War II (1945)?

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