The following table shows the national income data for an economy in year 2020. ITEM RM (million)

Wholesale and Retail 11 700

Mining and Gas 7 200

Construction 22 105

Manufacturing 15 705

Agriculture and Forestry 11 000

Banking and Insurance 15 000

Factor Payment from Abroad 5 280

Other Services 2 250

Indirect Taxes 650

Factor Payment to Abroad 6 820

Capital consumption 370

a. Based on the above data calculate:

i. Gross Domestic Product at market price

ii. Gross National Product at factor cost

iii. National Income

b. Name the approach used in this national income calculation.

c. List down TWO (2) uses of national income statistics.

Haley photocopying purchases a paper from an out-of-state vendor. average weekly demand for paper is 150 cartons per week for which haley pays $15 per carton. in bound shipments from the vendor average 1000 cartoons with an average lead time of 3 weeks. haley operates 52 weeks per year; it carries a 4-week supply of inventory as safety stock and no anticipation inventory. the vendor has recently announced that they will be building a faculty near haley photocopying that will reduce lead time to one week. further, they will be able to reduce shipments to 200 cartons. haley believes that they will be able to reduce safety stock to a 1-week supply. what impact will these changes make to haley’s average inventory level and its average aggregated inventory value?