Gross Domestic Product is listed below:
Income from employment = K312422 million
Income from self-employment = K59724 million
Gross trading from the companies = K72488 million
Gross profit from general government enterprise = K568 million
Net factor payment from abroad = K4837 million
Taxes = K3114 million
Use the information above to answer these questions:
A. Calculate GDP using income method.
B. Calculate GNP.
C. Calculate GDP per capita if the total population is 6 million
Show all work.
A. GDP using income method = Income from employment + Income from self-employment + Gross trading from the companies + Gross profit from general government enterprise + Net factor payment from abroad
= 312422 + 59724 + 72488 + 568 + 4837
= K443039 million
B. GNP = GDP + Net factor payment from abroad
= 443039 + 4837
= K447876 million
C. GDP per capita = GDP / Total population
= 443039 / 6
= K73839.83 per person