Answer :
Certainly! Let's tackle each part of the question step-by-step:
### Q.5.1.1 Calculate the value of the gross national product (GNP).
Gross National Product (GNP) is calculated by adding the Net primary income from the rest of the world to the GDP at market prices.
1. GDP at market prices: R225bn
2. Net primary income to the rest of the world: R15bn
Therefore,
[tex]\[ \text{GNP} = \text{GDP at market prices} + \text{Net primary income from the rest of the world} \][/tex]
[tex]\[ \text{GNP} = R225bn + R15bn \][/tex]
[tex]\[ \text{GNP} = R240bn \][/tex]
### Q.5.1.2 Calculate the value of GDP at factor cost.
GDP at factor cost is calculated by subtracting Indirect taxes and adding Subsidies to the GDP at market prices.
1. GDP at market prices: R225bn
2. Indirect taxes: R35bn
3. Subsidies: R3bn
Therefore,
[tex]\[ \text{GDP at factor cost} = \text{GDP at market prices} - \text{Indirect taxes} + \text{Subsidies} \][/tex]
[tex]\[ \text{GDP at factor cost} = R225bn - R35bn + R3bn \][/tex]
[tex]\[ \text{GDP at factor cost} = R193bn \][/tex]
### Q.5.2 List the two other methods that are used to calculate the GDP.
Apart from the expenditure method, the two other methods for calculating GDP are:
1. The Income Approach: This method calculates GDP by adding up all incomes earned by individuals and businesses in the economy, including wages, profits, rents, and taxes minus subsidies.
2. The Production (or Output) Approach: This method calculates GDP by adding up the value of all goods and services produced in the economy, typically measured by value added at each stage of production.
### Q.5.3 Match-the-columns question.
For this question, we need additional data from columns A and B to match the macroeconomic objectives to the appropriate measures of assessment. Given that this additional data is not provided here, it is impossible to offer specific answers. However, the general format to respond would be something like: `Q.5.3.1 (appropriate letter)`.
Given the values we calculated:
- Gross National Product (GNP): R240bn
- GDP at factor cost: R193bn
### Q.5.1.1 Calculate the value of the gross national product (GNP).
Gross National Product (GNP) is calculated by adding the Net primary income from the rest of the world to the GDP at market prices.
1. GDP at market prices: R225bn
2. Net primary income to the rest of the world: R15bn
Therefore,
[tex]\[ \text{GNP} = \text{GDP at market prices} + \text{Net primary income from the rest of the world} \][/tex]
[tex]\[ \text{GNP} = R225bn + R15bn \][/tex]
[tex]\[ \text{GNP} = R240bn \][/tex]
### Q.5.1.2 Calculate the value of GDP at factor cost.
GDP at factor cost is calculated by subtracting Indirect taxes and adding Subsidies to the GDP at market prices.
1. GDP at market prices: R225bn
2. Indirect taxes: R35bn
3. Subsidies: R3bn
Therefore,
[tex]\[ \text{GDP at factor cost} = \text{GDP at market prices} - \text{Indirect taxes} + \text{Subsidies} \][/tex]
[tex]\[ \text{GDP at factor cost} = R225bn - R35bn + R3bn \][/tex]
[tex]\[ \text{GDP at factor cost} = R193bn \][/tex]
### Q.5.2 List the two other methods that are used to calculate the GDP.
Apart from the expenditure method, the two other methods for calculating GDP are:
1. The Income Approach: This method calculates GDP by adding up all incomes earned by individuals and businesses in the economy, including wages, profits, rents, and taxes minus subsidies.
2. The Production (or Output) Approach: This method calculates GDP by adding up the value of all goods and services produced in the economy, typically measured by value added at each stage of production.
### Q.5.3 Match-the-columns question.
For this question, we need additional data from columns A and B to match the macroeconomic objectives to the appropriate measures of assessment. Given that this additional data is not provided here, it is impossible to offer specific answers. However, the general format to respond would be something like: `Q.5.3.1 (appropriate letter)`.
Given the values we calculated:
- Gross National Product (GNP): R240bn
- GDP at factor cost: R193bn