1. Go to the Hong Kong Census and Statistics Department's website (https://www.censtatd.gov.hk/en/web_table.html?id=32) find the data on Hong Kong's GDP and its expenditure components in 2020 (whole year). (a) Fill in the table using the 2020 data: HK$ million Percent of GDP GDP (Y) Consumption (C) Investment (I) Fixed capital formation Changes in inventory Government Spending (G) Net exports Exports (X) Imports (IM) b) What is the largest component of HK's economy besides consumption expenditure? Does Hong Kong have a trade surplus or trade deficit? (c) A widely used measure of trade openness is the Openness Index given by X + IM Openness = Y Compute the Openness Index of Hong Kong in 2020. (d) Compare your answers to (b) and (c) to the US economy (Table 3.1). Explain any similarities and differences between the two economies