1 Based on the data below, calculate GDP for this economy using the Expenditure method Also, does this economy have a trade surplus or trade deficit Wages $600 Personal Consumption Expenditure $1,300 Interest $450 Investment $725 Social Security Spending $525 Government Spending $485 Imports $600 Medicare Spending $350 Exports $500 Corporate Profits $900

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Question: 1. Based on the data below, calculate GDP for this economy using the Expenditure method. Also, does this economy have a trade surplus or trade

1. Based on the data below, calculate GDP for this economy using the Expenditure method. Also, does this economy have a trade surplus or trade deficit?

Wages: $600
Personal Consumption Expenditure: $1,300
Interest: $450
Investment: $725
Social Security Spending: $525
Government Spending: $485
Imports: $600
Medicare Spending: $350
Exports: $500
Corporate Profits: $900

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