(a) It is the year 2018, and the country of Hypothetica had the following economic activities take place:

*Domestic consumers spent $4 billion, 10% of which were of goods initially produced in 2017. Of this $4 billion, foreigners with working visas living in Hypotheticabought $0.2 billion worth of locally made goods and services.

*A total of $300 million worth of housing stock was sold. 80% of this was new housing stock.

*Owners of factories rented out by businesses were paid $100 million.

*Businesses invested $10 million in new capital (i.e. machinery) stock.

*Businesses also bought $100 million worth of company shares on the stock exchange.

*The government spent $100 million to purchase refurbished cars for official business, and spent a further $10 million engaging agents to undertake and complete the process.

*Hypothetica is a closed economy.

(i) What was the value of consumption in Hypothetica is 2018? Explain how you obtained this value (i.e. what did you count, and what did you exclude). (1.5 marks)

(ii) What was the value of investment in Hypothetica in 2018? Explain how you obtained this value (i.e. what did you count, and what did you exclude). (1.5 marks)

(iii) What was the value of government expenditure in Hypothetica in 2018? Explain how you obtained this value (i.e. what did you count, and what did you exclude). (1.5 marks)

(iv) Calculate Hypothetica's GDP in 2018 using the expenditure method. (1.5 marks)