Question:
[Table Data] CoE = 600, GOS = 800, GMI = 850, Net Primary Inc from ROW = -20, Taxes less subsidies on products = 120, Other taxes less subsidies on production = 50. What are GDP and GNI?
(1) 2420 / 2400
(2) 2270 / 2250
(3) 2420 / 2440
(4) 2570 / 2550
(5) 2250 / 2230
Correct Answer:
(1)
Answer Explanation:
Using the Income Approach: Gross Value Added at Basic Prices = Compensation of Employees (600) + Gross Operating Surplus (800) + Gross Mixed Income (850) + Other taxes/subsidies on production (50) = 2300. GDP at Market Prices = GVA (2300) + Taxes/subsidies on products (120) = 2420. Finally, GNI = GDP (2420) + Net Primary Income from ROW (-20) = 2400.
Topic: National Income Year: 2024
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