Gross Domestic Product (GDP) is one important indicator of economic wellbeing of an economy. The following shows expenditure components in her GDP (in billion dollars, 2018 chained values) over a three-year period:

2018 2019 2020

Private Consumptions 600 620 630

Private Investments 200 202 205

Government Spending 100 160 200

Exports 800 600 500

Imports 700 550 490

a. On the whole, how did the economy grow over time? Explain with relevant calculations based in the figures in the table.

b. Adopt relevant calculations based on the figures in the table. Using the results to explain the changing sources of growth during the period. Briefly comment on such a change.

c. Briefly explain TWO limitations of relying on the above figures to indicate the changing economic well-being of the households in the economy.

d. Refer to the answers in (c), suggest TWO additional macroeconomic indicators to accompany with the given figures in representing the changing economic well-being. Briefly explain.