Question 1 consists of three sections A AND B DO ALL THREE!!! :

SECTION A

The table below lists Jamaicas transactions in 2017:

Consumers expenditures 100 000

Government expenditure 40 000

Gross investment 37 000

Value of increase in stock 2 000

Exports of goods 18 000

Imports of goods 17 130

Income received from abroad 7 900

Income paid abroad 7 400

Subsidies 1 390

Taxes on expenditure 1 740

Capital consumption 5 500

Use the information above to calculate:

1. Gross Domestic Product (market prices)
2. Net Property Income
3. Gross National Product (market prices)
4. Gross National Product (factor cost)
5. National Income

SECTION B

The following presents the costs and revenues for an agricultural firm.

Quantity	Total Cost	Marginal Cost	Total Revenue	Marginal Revenue	Profit
0	$8		$0
1	9		8
2	10		16
3	11		24
4	13		32
5	19		40
6	28		48
7	37		56

1. Calculate the marginal cost, marginal revenue and profit for each unit of production. (6marks)
2. How many units should the firm produce to maximize profit? (2mark)
3. Plot the marginal revenue and cost curves. (3marks)