Question

Label the following items as either being a GDP, GNP, Final good, or Intermediate good.

1) Salary that paid to Omani nationals who are working abroad
2) A Food refrigerator purchased by a family.
3) Interest paid on capital in a foreign-owned company to an Omani citizen
4) An automobile purchased by a family for private use.
5) Recycled paper purchased by a Tissue manufacturer
6) A computer purchased by a university for use in the classroom
7) Production which earned in Oman by a foreign-owned company
8) Salary that paid to foreigners who working in Oman in a foreign- owned company

Answer 1

The labeled items are salary paid to Omanis working abroad as GDP, a food refrigerator purchased by a family as a final good, interest paid on capital in a foreign-owned company to an Omani citizen as GNP, an automobile purchased for private use as a final good, recycled paper purchased by a tissue manufacturer as an intermediate good, a computer purchased by a university for use in a classroom as a final good, production earned in Oman by a foreign-owned company as GDP, and salaries paid to foreigners working in Oman in a foreign-owned company as GDP.

Step-by-step explanation:

The labeled items are as follows:

1. GDP: Salary that paid to Omani nationals who are working abroad
2. Final Good: A Food refrigerator purchased by a family
3. GNP: Interest paid on capital in a foreign-owned company to an Omani citizen
4. Final Good: An automobile purchased by a family for private use
5. Intermediate Good: Recycled paper purchased by a Tissue manufacturer
6. Final Good: A computer purchased by a university for use in the classroom
7. GDP: Production which earned in Oman by a foreign-owned company
8. GDP: Salary that paid to foreigners working in Oman in a foreign-owned company