Question

Calculate net national product at market price:

a) Gross domestic fixed capital formation 350

b) Private final consumption expenditure 8000

c) Government final consumption expenditure 3000

d) Value of the output produced in the economy 150

e) Current replacement cost of fixed capital 40

f) Net exports -60

g) Net factor income from abroad 80

h) Sales by all firms in the economy 100

II) Explain the circular flow of income in the two sector economy.​

Answer 1

Explanation:

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