Suppose you are given the following macroeconomic data for Zepland in 2015. Item

Question

Suppose you are given the following macroeconomic data for Zepland in 2015.

Item                                                                                        Billions of dollars

Wages, salaries, and supplementary labour income                 1,067

Consumption expenditure                                                       905

Net domestic income at factor cost                                          1,530

Investment                                                                               350

Government expenditure                                                         411

Net exports                                                                              8

Depreciation                                                                            267

Calculate GDP

Calculate the income for other factos (ie other factor incomes)

Explanation / Answer

GDP = Consumption expenditure + Investment + Government expenditure + Net exports

GDP = 905 + 350 + 411 - 8 = $ 1658 billions

Income for other factors = Wages, salaries, and supplementary labour income + Net domestic income at factor cost

= 1067 + 1530 = $ 2597 billions

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