TUTORIAL TOPIC 2

Answer all questions below

1. Gross Domestic Product at market price = Consumption + ____________________

+ __________________________ +Net export + _________________________.(4.5
m)
2. The difference between GDP and GNP is_________________________________
(1 m)

3. The three main sectors in calculating national using the product approach are
_______________, ____________________ and
_______________________________( 4.5 m)

4. GDP at market price = 2 500

Indirect taxes = 20
Subsidies = 15
factor income from abroad = 17
factor income paid abroad = 25
depreciation = 50

From the above data calculate:

a) GDP at factor cost

=_____________________________________________________________

b) GNP at market price

=____________________________________________________________

c) NNP at factor cost

=_____________________________________________________________

d) GNP at factor cost

=_____________________________________________________________