formula

Question 1

GDP at market prices

Answer 1

C + I +G + (X-M)

Question 2

GDP at factor cost

Answer 2

GDP at market price - Tax + subsidies

Question 3

GNP

Answer 3

GDP at factor cost (-) (+) Net property income from abroad

Question 4

National income (NI)/ Net National product (NNP)

Answer 4

GNP - capital consumption

Question 5

4 Uses of national income statistics

Answer 5

• measure the level of economic activity in a country
• indicator of standard of living of ppl in a country

-measure economic growth (Gross national income/population) (real per capita)

-classify countries according to different level of development