Question: The data below contains sufficient hypothetical information for the calculation of the National Income in a certain year for XYZ Country; the inflation rate is
The data below contains sufficient hypothetical information for the calculation of the
National Income in a certain year for XYZ Country; the inflation rate is given as 30%
for that year. The figures are in million US dollars ($).
Personal Consumption Expenditure
1000
Oil Deposit receipts
500
Monetary Value of Services Sector
900
Indirect Taxes
200
Selling Price of Livestock products
80
Public Authorities' Spending on Goods and Services
500
Wages and Salaries
900
Market Value of Crops
400
Value of Output produced by Construction sub-sector
300
Gross Domestic Fixed Capital Formation
800
Income of Self-Employed
300
Monetary Value of Cocoa
200
Bribes received by Government Officials
350
Exports of Goods and Services
400
Rents
500
Monetary Value of products from Fisheries sub-sector
120
Market Value of Mining and Quarrying Outputs
200
Subsidies
200
Property Income received from Abroad
600
Remittances from Abroad
240
Imports of Goods and Services
600
Undistributed Profit
300
Monetary Value of Forestry Outputs
230
Selling Price of Manufacturing Products
190
Interest on Capital
340
Property Income Paid Abroad
800
Fringe Benefits received by Employees
200
Transfer Payments received by Households
150
Monetary Value of Electricity Output
430Monetary Value of Water and Sewerage
350
Net Domestic Fixed Capital Formation
700
Calculate the following:
a) Gross Domestic Expenditure at factor cost
b) Net National Income at factor cost
c) Real National Income
d) Real Income per capita given that the population for this economy is 30 million.
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