Use the following information given to answer this question
Total of all expenditure incurred during the year ₤ 80,000m
Indirect taxes on goods and services ₤ 8,000m
Capital consumption ₤ 6,000m
Gross national expenditure at factor cost is_________?
A. ₤ 88,000μ
B. ₤ 82,000μ
C. ₤ 74,000μ
D. ₤ 72,000μ
Correct Answer: Option D
D. ₤ 72,000μ
Explanation
GNP at cost = Expenditure – Depreciation
⇒ 80,000 – 6,000 = ₤ 72,000μ
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