Question No. 1:

The following data summarize the expenditures for the country of XYZ during 2013 in millions of alphabets, the currency of country XYZ.

Gross Private Domestic Investment $300

Business Fixed Investment $200

Change in Inventories $100

Exports $200

Imports $200

Personal Consumption Expenditures $800

Government Consumption Expenditures and Gross Investment $500

Statistical Discrepancy $10

Depreciation Expenditures $50

a)Calculate net exports

b)Calculate GDP

c)Calculate national income

d)Assume that the GDP deflator is 120 and calculate real GDP for 2013.