The data below contains sufficient hypothetical information for the calculation of the National Income in a certain year for XYZ Country; the inflation rate is given as 30% for that year. The figures are in million US dollars ($).
Personal Consumption Expenditure 1000
Oil Deposit receipts 500
Monetary Value of Services Sector 900
Indirect Taxes 200
Selling Price of Livestock products 80
Public Authorities Spending on Goods and Services 500
Wages and Salaries 900
Market Value of Crops 400
Value of Output produced by Construction sub-sector 300
Gross Domestic Fixed Capital Formation 800
Income of Self-Employed 300
Monetary Value of Cocoa 200
Bribes received by Government Officials 350
Exports of Goods and Services 400
Rents 500
Monetary Value of products from Fisheries sub-sector 120
Market Value of Mining and Quarrying Outputs 200
Subsidies 200
Property Income received from Abroad 600
Remittances from Abroad 240
Imports of Goods and Services 600
Undistributed Profit 300
Monetary Value of Forestry Outputs 230
Selling Price of Manufacturing Products 190
Interest on Capital 340
Property Income Paid Abroad 800
Fringe Benefits received by Employees 200
Transfer Payments received by Households 150
Monetary Value of Electricity Output 430
Monetary Value of Water and Sewerage 350
Net Domestic Fixed Capital Formation 700
Calculate the following:
Gross Domestic Expenditure at factor cost
Net National Income at factor cost
Real National Income
Real Income per capita given that the population for this economy is 30 million.
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