Assume that the following data apply to the ECF 110 economy for 2006Assume that

Question

Assume that the following data apply to the ECF 110 economy for 2006Assume that the following data apply to the ECF 110 economy for 2006. (All figures are in millions of kwacha)
Net exports
-624
Total business inventories at year end
763
Personal consumption expenditures
10200
Depreciation
1435
Total government consumption and gross investment
2100
Gross residential investment
356
Receipts of factor income from the rest of the world
894
Total imports
2120
Central and local government expenditure and gross investment
1300
Factor payments to the rest of the world
569
Planned change in business inventories
40
Unplanned change in business inventories
10
Gross non-residential investment
1854

Explanation / Answer

GDP = Personal consumption expenditures + Gross residential investment + Gross non-residential investment + Planned change in business inventories + Central and local government expenditure and gross investment + Net Exports

= 10,200 + 356 + 1,854 + 40 + 1,300 - 624

= 13,126

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