\(\begin{array}{c|c}
\text{Capital consumption allowance} & \text{N20,000} \\
\hline
\text{Gross domestic production} & \text{N60,000} \\
\hline
\text{Factor payment to foreigners} & \text{N10,000} \\
\hline
\text{Factor income from abroad} & \text{N15,000} \\
\end{array}\)

From the above table, calculate the Gross National Product.

chukzyb2

2 years ago

To calculate Gross National Product (GNP), we use the formula:

GNP = Gross Domestic Product (GDP) + Factor Income from Abroad - Factor Payment to Foreigners

Given the following values:

Gross Domestic Product (GDP) = N60,000
Factor Income from Abroad = N15,000
Factor Payment to Foreigners = N10,000

Let's plug these values into the formula:

GNP = N60,000 + N15,000 - N10,000
GNP = N65,000

Therefore, the Gross National Product (GNP) is N65,000.

shakurrebirth

3 months ago

GNP = GDP + NFIA
Therefore: GNP = GDP + (factor income from abroad - factor payment to foreigners).
From the question:
GDP = 60,000
NFIA = 15,000 - 10,000 = 5,000
Hence, GNP = 60,000 + 5,000 = 65,000

Correct answer is N65,000.

colikstan

3 years ago

GNP = GDP + net income abroad
= 60,000+ 15,000= 75,000 ✅