The national accounts of Parchment Paradise are kept on (you guessed it) parchment. A fire in the

Question:

The national accounts of Parchment Paradise are kept on (you guessed it) parchment. A fire in the statistics office destroys some accounts, leaving only the following data:
• GDP (income approach) $2,900

• Consumption expenditure $2,000
• Indirect taxes less subsidies $100
• Interest, rent, and profit $500
• Investment $800
• Government expenditure $400
• Wages $2,000
• Net factor income from abroad $50
• Net exports –$200

Calculate net domestic product at factor cost, the statistical discrepancy, and GNP.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Foundations Of Economics

ISBN: 9780135897478

9th Edition

Authors: Robin Bade, Michael Parkin

Question Posted: