Question 3)The following data summarizes the expenditures for the country H during 2025 in billions of dollars, and the currency of country H.

Measure in $ billions	Year 2020		Measure in $ billions	Year 2020
Total Spending			Total income
Business investment (I)	100		Wage	1369.44
Government Spending (G)	400		Rental income	128.26
Transfer payments (TR)	200		Corporate Profits	301.52
Personal Consumption (C)	1200		Net interests	135.68
Net Export (NX)	30		Depreciation Expenditures	112
Government (Public) Investment	102.5
Tax Revenue	650		Tax	650
GDP deflector	101.5

Q3a)Calculate GDP using the 'expenditure 'approach. List the formula. (3 marks) Q3b) Calculate GDP using the 'Income' approach. List the formula. (3 marks) Q3c)Calculate the government budget (surplus/deficit/balanced) amount. (2 marks)

Q3d)Table 1: Consider the following table that contains key macroeconomic data for Country H:

Economic Data		2019	2020
Working Age Population (WAP) (in millions)		43.33	42.97
Employed Persons (E)		27.5	26.2
Unemployed Persons (U)		1.1	1.45
Consumer Price Index (CPI)		118	115
Consumers Spending		$783	$700

Q3 d)Calculate the labour force participation rate (LFPR%) andthe unemployment rate (UR%) in 2020.

(2 marks)

Q3e)Calculate the inflation rate between 2019 to 2020 for Country H. (3 marks)

Q3f)Given the key macroeconomic indicators from your calculations from Q3d) and Q3e), which phase the economy of country H is in? Explain. (2 marks)