a)

The data for a hypothetical economy in a given year are as follows: Category Value Personal consumption expenditures $80 billion Purchases of stocks and bonds $30 billion Net exports -$10 billion Government purchases $30 billion Sales of second-hand items $8 billion Gross investment $25 billion What is the country's GDP for the year? billionUsing the following national income accounting data, compute GDP by the expenditures approach. All figures are in billions. Category Value Wages, salaries, and supplementary labour income $194.2 Canadian exports of goods and services 17.8 Capital consumption allowances (depreciation) 11 .8 Government current purchases of goods and services 59.4 Net investment (net capital formation 52. 1 Canadian imports of goods and services 16.5 Personal consumption expenditures 219. 1 Instructions: Round your answers to one decimal place. GDP = $ billion.Using the following national income accounting data, compute GDP by both the expenditures and income approaches. All figures are in billions. Category Value Profits of corporations and government enterprises before taxes $46 Exports 94 Capital consumption allowances 65 Government current purchases of goods and services 113 Net income of farm and unincorporated businesses 24 Taxes less subsidies on factors of production 75 Wages, salaries, supplementary labour income 371 Gross investment 167 Indirect taxes less subsidies on products 11 Interest and investment income 59 Personal consumption expenditures 284 Imports 7 Using the expenditures approach, GDP = $ billion Using the income approach, GDP = $[ billionThe following table shows nominal GDP and an appropriate price index group of selected years. Compute real GDP. Indicate in each calculation whether you are inflating or deflating the nominal GDP data. Instructions: Round your answers to one decimal place. Nominal GDP GDP deflator Real GDP Effect on Year (billions) (2007 = 100) (billions) Nominal GDP 1981 366.6 47.1 (Click to select) + 1991 696.9 71 . 8 (Click to select) 2001 1134 .8 84.5 (Click to select) # 2008 1646.0 103.9 (Click to select) + 2011 1770.0 108.3 (Click to select) # 2010 2144.4 115 .6 (Click to select)Suppose that the annual rates of growth of real GDP of Econoland over a five-year period were as follows: Year Growth Rate 1 2 3 -2 4