Chapter 5

Question 1

Value added

Answer 1

Sales revenue−Cost of intermediate goods

Question 2

Net export

Answer 2

X_a−〖IM〗_a

Question 3

GDP from the expenditure side

Answer 3

C_a+I_a+G_a+X_a−〖IM〗_a

Question 4

GDP from the income side

Answer 4

Factors income+Non factor payments=Wages and salaries+Interest+Business profit+Indirect taxes - subsidies + Depreciation

Question 5

GDP deflator

Answer 5

((Nominal GDP)/(Real GDP))×100

Question 6

Real per capita GDP

Answer 6

GDP/(Total population)