Determine GDP/GNP by expenditure approach using the following data. Assume that these were the only transactions...

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Determine GDP/GNP by expenditure approach using the following data. Assume that these were the only transactions that took place during the accounting period. Some transactions need to be added together in one account. Consumer durable goods Consumer services Salaries paid to public servants Statistical Discrepancy Purchase of capital goods Construction Costs of public and other social services Increase in stocks Consumer non-durable goods Export of goods and non-factor services Costs of minor repairs of infrastructures Imports of goods and non-factor services Net factor Income From Abroad/Net Primary Income Orchard Development Purchase of office supplies and furniture of government Breeding (Hogs, poultry, etc) Copyright, Patents Transfer payments Household Final Consumption Expenditure Government Final Consumption Expenditure Capital Formation (FC+CI) Fixed Capital (FC) Construction Gross National Income and Gross Domestic Product by Expenditure Shares (2019) O O O O Durable Equipment Breeding Stock and Orchard Development Intellectual Property Products Changes in Inventories (CI) Net Exports Exports Less: Imports Statistical Discrepancy (2,000) GROSS DOMESTIC PRODUCT Net Primary Income from the rest of the world GROSS NATIONAL INCOME 34,000 5,000 36,000 6,000 4,000 17,000 10,000 1,000 7,000 20,000 3,000 9,000 (400) 2,000 2,500 500 1,000 At Current Prices (in Million pesos) Determine GDP/GNP by expenditure approach using the following data. Assume that these were the only transactions that took place during the accounting period. Some transactions need to be added together in one account. Consumer durable goods Consumer services Salaries paid to public servants Statistical Discrepancy Purchase of capital goods Construction Costs of public and other social services Increase in stocks Consumer non-durable goods Export of goods and non-factor services Costs of minor repairs of infrastructures Imports of goods and non-factor services Net factor Income From Abroad/Net Primary Income Orchard Development Purchase of office supplies and furniture of government Breeding (Hogs, poultry, etc) Copyright, Patents Transfer payments Household Final Consumption Expenditure Government Final Consumption Expenditure Capital Formation (FC+CI) Fixed Capital (FC) Construction Gross National Income and Gross Domestic Product by Expenditure Shares (2019) O O O O Durable Equipment Breeding Stock and Orchard Development Intellectual Property Products Changes in Inventories (CI) Net Exports Exports Less: Imports Statistical Discrepancy (2,000) GROSS DOMESTIC PRODUCT Net Primary Income from the rest of the world GROSS NATIONAL INCOME 34,000 5,000 36,000 6,000 4,000 17,000 10,000 1,000 7,000 20,000 3,000 9,000 (400) 2,000 2,500 500 1,000 At Current Prices (in Million pesos)

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To determine GDPGNP by the expenditure approach we need to calculate each component and then sum the... View the full answer