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Problem 1. GDP Accounting (1 point). How does GDP accounting record the following events? For each of them, describe how they would be computed in GDP accounts using the income method, the pro- duction method and the expenditure method. a. A car manufacturer buys components from Japan for $1 and uses half of those components in the production of a car, that it sells to Andy for $2. It stores the rest of the components. b. An army battalion is deployed to the border to repel a threatened Canadian invasion. The soldiers earn wages of $10,000 and use ammunition that the government buys for $5,000. The ammunition is produced using $2,000 of imported steel and 100 hours of work, for which the workers were paid $1,000. c. A shipyard builds a cruise ship. It pays wages of $200,000, interest on loans (from US residents) of $100,000 and $300,000 for imported raw materials. The ship is sold for $1,000,000 to a cruise company. In the same year, the cruise company has revenue for $50,000 from operating cruises, pays wages of $20,000 to its workers and has no other expenses. Half the cruise revenue comes from tourists who reside in the United States and half comes from tourists who reside abroad