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1. Compare and contrast GDP versus GNP. (3 marks) Provide an example of each. Based on the data provided, calculate GDP according to the Expenditure

1. Compare and contrast GDP versus GNP. (3 marks) Provide an example of each.

Based on the data provided, calculate GDP according to the Expenditure Model.

Savings $642

Incoming FX Receipts $896

Private investment $414

Imports $624

GST Collected $168

Personal consumption $765

Rent Income $698

Property Taxes Collected $267

Exports $578

Government spending $1203

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