*5 The transactions in Ecoland last year were: Item Euros Wages paid to labour 800,000 Consumption expenditure 600,000 Taxes 250,000 Transfer payments 50,000 Profits 200,000 Investment 250,000 Government expenditures 200,000 Exports 300,000 Saving 300,000 Imports 250,000 a Calculate Ecoland’s GDP. b Did you use the expenditure approach or the income approach to make this calculation? c How is investment financed?