The gig economy has changed the world of work. Discuss Assume the following national income accounting...
The gig economy has changed the world of work. Discuss
Assume the following national income accounting data
in billions of ringgit:
RM billion
transfer payments to persons
400
personal taxes
100
corporate profit tax payments, undistributed profits
and valuation adjustments
200
interest paid to businesses
50
contributions to Social Security
350
net personal transfer payments to foreigners
15
personal interest income
150
government purchases of goods and services
100
consumption expenditures
750
gross investment
75
imports of goods and services
20
exports of goods and services
10
Depreciation
250
indirect taxes
100
Calculate gross national product.
Calculate net national product.
Calculate national income.
Calculate personal income.
Calculate personal disposable income.
Calculate personal saving.
Homework Answers
Gross National Product (GNP)= Gross Domestic Product (GDP) + net factor Income from Abroad (NFIA)
= Consumption Expenditure(C) + Investment expenditure (I) + Governement expenditure
(G) + Net exports (exports- imports) + NFIA
= 750+75+100+(10-20)+15
GNP= 930
Net National product (NNP) = GNP - Depreciation(D)
= 930-250
= 580
National Income (NI) = NNP- indirect taxes +subsidies
= 580-100+0
=480
Personal Income (PI)= NI- Corporate tax -undistributed profits- net interest payments made by households+ transfer payments
PI= 480-200-50+400
PI= 630
Personal disposable Income (DI)= PI - personal tax payments - non tax payments
= 630-100-350
DI= 180
Now,
DI= savings +expenditure
savings= DI- 150
= 180-150
=30
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The gig economy has changed the world of work. Discuss
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please help me with this assignment. you have to answer the
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review.
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please help me with this assignment. you have to answer the
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review.
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