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Questions › JNU › JNU SSS 2015 › Q67
2 marks, −0.5Macroeconomics › National income accounting › GDP, GNP, NDP and national incomeModerateabout 2 min

JNU SSS 2015 Question 67: National income accounting

Year 1Year 2Year 3Year 4Year 5⇐ Year / Item
4705447541110464068347434965yey_eye​1National income
600612620370825175ydy_dyd​11535032Indirect taxes
2741162514462899203496254290983Subsidies
yay_aya​89803834Net national income at market prices
– 32923– 38000ycy_cyc​– 76830– 1167665Net factor income from abroad
4738370yby_byb​6488641751179583727446Net domestic product at factor cost

The value of yby_byb​ has to be

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Answer and worked solution

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Plain-text version

| Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | ⇐ Year / Item | 4705447 | 5411104 | 6406834 | 7434965 | yₑ | 1 | National income | 600612 | 620370 | 825175 | y_d | 1153503 | 2 | Indirect taxes | 274116 | 251446 | 289920 | 349625 | 429098 | 3 | Subsidies | yₐ | 8980383 | 4 | Net national income at market prices | – 32923 | – 38000 | y_c | – 76830 | – 116766 | 5 | Net factor income from abroad | 4738370 | y_b | 6488641 | 7511795 | 8372744 | 6 | Net domestic product at factor cost | The value of y_b has to be (A) 5818028 (B) 5780028 (C) 5411104 (D) 5449104

Also written as: | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | ⇐ Year / Item | 4705447 | 5411104 | 6406834 | 7434965 | y_e | 1 | National income | 600612 | 620370 | 825175 | y_d | 1153503 | 2 | Indirect taxes | 274116 | 251446 | 289920 | 349625 | 429098 | 3 | Subsidies | y_a | 8980383 | 4 | Net national income at market prices | – 32923 | – 38000 | y_c | – 76830 | – 116766 | 5 | Net factor income from abroad | 4738370 | y_b | 6488641 | 7511795 | 8372744 | 6 | Net domestic product at factor cost | The value of y_b has to be

National income accounting has come up 132 times in 6 exams since 2010.

What this question tests

This question is on GDP, GNP, NDP and national income, part of National income accounting in Macroeconomics.

Converting between GDP, GNP, net product and national income, and between market prices and factor cost.

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Question from the JNU SSS 2015 paper. Solutions are TestStop's own. Not affiliated with or endorsed by any examination authority.