Suppose that you are provided the following (hypothetical) data for the Canadian economy in a particular year.

i)Total spending by Canadian buyers on Canadian-produced goods and services equals

ii)$700 billion.

iii)Total spending by Canadian buyers on all Canadian-produced and foreign-produced goods and services equals $850 billion.

iv)Total spending by Canadian and foreign buyers on Canadian-produced goods and services equals $840 billion.

Use the data above to complete the following statements by filling in the blanks.

a) Absorption (A) in the Canadian economy is equal to $_____ billion.(1 mark)

b) Canadian GDP (Q) is equal to $_____ billion.(1 mark)

c) Canadian net exports (NX) are equal to $_____ billion.(1 mark)

d) Canadian exports (EX) are equal to $_____ billion.(1 mark)

e) Canadian imports (IM) are equal to $_____ billion.(1 mark)