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Table 1- National Income and Product in -$ Billions 2007 GDP 8000 Rece.pdf

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Table 1: National Income and Product in \$ Billions 2007 GDP 8000 Receipt of factor income from the rest of 250 the world Payments of factor income to the rest of the 300 world Depreciation Indirect taxes minus subsidies Corporate profits minus dividends Social insurance payments 700 Personal interest income received from the 300 government and consumers Transfer payments to persons 1100 Personal taxes 1000 Using Table 1 above, calculate: (i) Gross National Product (GNP) (3 marks) (ii) Net National Product (NNP) (3 marks) (iii) National Income (NI) (3 marks).

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Table 1: National Income and Product in $ Billions 2007 GDP 8000 Receipt of factor income from the rest of 250 the world Payments of factor income to the rest of the 300 world Depreciation Indirect taxes minus subsidies Corporate profits minus dividends Social insurance payments 700 Personal interest income received from the 300 government and consumers Transfer payments to persons 1100 Personal taxes 1000 Using Table 1 above, calculate: (i) Gross National Product (GNP) (3 marks) (ii) Net National Product (NNP) (3 marks) (iii) National Income (NI) (3 marks)

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