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