Read the media storyhttps://www.newshub.co.nz/home/money/2021/12/quarterly-gdp-falls-3-7-percent-revealing-delta-s-damage-to-economy.html and answers the following questions :

1. Using the definition of GDP, interpret the third quarter GDP number as reported in the story.

1. How is GDP calculated according to the expenditure approach? Which components of it have been mostly negatively affected in the third quarter of 2021 for the NZ economy?

1. What are the two key reasons due to which the NZ economy performed better in Q3 2021 compared to Q2 June 2020? Explain your answer with reference to the above case.