SECTION B Question 1 From the following data for Country X, you are required to calculate: a. i. GDP at factor cost ii. GNP at factor cost iii. NNP Total consumer expenditure 400 000 Government spending 148 000 Gross domestic capital formation 160 000 Value of physical increases in stock 8 000 Export of goods 72 000 Import of goods 68 520 Subsidies S 560 Taxes on expenditure 6 960 Capital consumption 22 000 Income from abroad 31 600 Income paid abroad 29 600 b. Discuss two uses of the National Income statistics c. Explain why 'transfer payments' are excluded from National Income calculations