1. If in some country personal consumption expenditures in a specic year are $50 billion, purchases of stocks and bonds are $30 billion, net exports are -$10 billion, government purchases are $20 billion, sales of second-hand items are $8 billion, and gross investment is $25 billion, what is the country's GDP for the year? (4 Marks) Which contributes more to GDPthe production of an economy car or the production of a luxury car? Why? (2 Marks) . Using the following national income accounting data, compute GDP by the expenditures approach. All gures are in billions. (4 Marks) Wages, salaries, and supplementary labour income $194.20 Canadian exports of goods and services 17.8 Capital consumption allowances (depreciation) 11.8 Government current purchases of goods and 59 4 serVICes Net investment (net capital formation) 521 Canadian imports of goods and services 16.5 Personal consumption expenditures 219.1 4. Which of the following are included or excluded in deriving this year's GDP? Explain your answer in each case. (20 Marks) a) Interest received on a Rogers Communications corporate bond. b) Canada Pension Plan payments received by a retired factory worker. c) The unpaid services of a family member in painting the family home. d) The Income of a dentist from the dental services provided. e) The monthly allowance a college/university student receives from home. f) The money received by Josh when he resells his nearly brand-new Honda automobile to Kim. g) The publication and sale of a new college/university textbook. h) An increase in leisure resulting from a two-hour decrease in the length of the workweek, with no reduction in pay. i) A $2 billion increase in business inventories. j) The purchase of 100 shares of the Bank of Montreal stock