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The table below sets out some data for Country X in 2007.

Item Amount
(in billions of dollars)
Consumption expenditure 289
Government expenditure 99
Interest and investment income 33
Profit of corporations and
government enterprises 65
Income from farms and
unincorporated businesses 40
Gross investment 146
Exports 36
Imports 22
Wages, salaries, and supplementary
labor income 275
Capital consumption allowance 60
Indirect taxes less subsidies 75

a. Calculate net exports.

b. Use the expenditure approach to calculate GDP.

c. Use the income approach to calculate GDP.

d. Calculate net domestic product (at factor cost).

e. Calculate net domestic income (at market price).

Solution Preview

net exports = exports - imports
net exports = 36 - 22 = 14 billion

b) ...

Solution Summary

The solution determines the GDP and NDP.