Question

Consumption                                        &nbs

Consumption                                             $400

Imports                                                       $ 10

Net investment                                           $ 20

Government purchases                            $ 100

Exports                                                       $ 20

Capital consumption allowance               $ 20

Statistical discrepancy                               $ 6

Receipts of factor income from

       the rest of the world                           $ 10

Payments of the factor income to

       the rest of the world                           $ 13

7. What is the GDP for this economy?

8. What is the GNP for this economy?

9. What is the NNP for this economy?

10. What is the national income for this economy?

11. What is the gross investment in for this economy?

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Homework Answers

Answer #1

Q-7 Answer :-

As per Expenditure approach GDP including the Consumption, investment , government purchase and net export. GDP is the measurement of economic growth

GDP = C+I+G+X-n

= $400+$20+$100+($20-$10)

= $530

so GDP is $530 for the country.

Q-8 Answer :-

Gross national product is the GDP plus net foreign income earn by domestic people minus net domestic income earn by foreigners

GNP = GDP + Z

= $530 + $10-$13

= $527

so gross National product is $527

Q-9 Answer :-

Net national product is the GNP minus Depreciation (Capital consumption allowance)

NNP = GNP - Depreciation

= $527 - $20

= $507

so NNP is $507

Q-10 answer :-

National income is same as GDP of the country. so GDP is $530. so national income is $530

Q-11 Answer :-

GRoss domestic investment is Net investment + Depreciation

GDI = NDI + depreciation

= $20+20

= $40

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