a) Define Gross Domestic Product (GDP). (4 marks) b) Explain the following expenditures in the Expenditure Approach for measuring the GDP: i) Consumption ii) Investment iii) Government expenditure iv) Net Export (4 mark)

C} Suppose the production and prices of pizza and burgers in Country Z in 2014 (base year} and 2015 are as follows: Quantity of Price of Quantity of - . . _ ' _ _ Price of burgers plzzas (million) pizzas burgers (million) 2014 10 $10.00 15 $5.00 2015 30 $12.00 30 $6.00