5.Discuss the differences ocalculating GDP using the expenditure approach and income approach. Be specific, do not just write the formula.

6. The COVID-19 virus has had an impact on all faucets of our economy. Please discuss the impact it has had on each of the variables below over the net twelve months. Explain if this will increase, decrease, or remain unchanged and the reasoning behind your decision.

a.C (consumption) (3 marks)

b.I (investment) (3 marks)

c G (government) (3 marks)

d. Imports (3 marks)

e.Exports (3 marks)

f. Taxes (2 marks)