Chat with AI
Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884 Exercise 29
Use the following data to work Problem.
The national accounts of Parchment Paradise are kept on (you guessed it) parchment. A fire destroys the statistics office. The accounts are now incomplete but they contain the following data:
GDP (income approach): $2,900
Consumption expenditure: $2,000
Indirect taxes less subsidies: $100
Net operating surplus: $500
Investment: $800
Government expenditure: $400
Wages: $2,000
Net exports: -$200
Calculate net domestic income at factor cost and the statistical discrepancy.
The national accounts of Parchment Paradise are kept on (you guessed it) parchment. A fire destroys the statistics office. The accounts are now incomplete but they contain the following data:
GDP (income approach): $2,900
Consumption expenditure: $2,000
Indirect taxes less subsidies: $100
Net operating surplus: $500
Investment: $800
Government expenditure: $400
Wages: $2,000
Net exports: -$200
Calculate net domestic income at factor cost and the statistical discrepancy.
Explanation
Verified
Verified
The income approach takes in considerati...
Macroeconomics 11th Edition by Michael Parkin
Why don’t you like this exercise?
Other Minimum 8 character and maximum 255 character
Character 255
