1. The table below shows the national income accounts for a hypothetical country, Metrica ($ billions)

$ billions

Corporate income 98

Exports 68

Wages and salaries 546

Net intl income to the rest of the world 8

Gross investment 157

Government purchases 184

Indirect taxes 75

Personal consumption 490

Imports 27

Depreciation 79

Proprietors incomes and rents 56

Statistical discrepancy ?

a. What is the income-based estimate of Metricas GDP?

b. What is the expenditure-based estimate?

c. What is the value of the statistical discrepancy that is added to the lower estimate and subtracted from the higher estimate to find a single GDP value?

d. By how much is Metricas capital stock expanding or contracting?

e. What is Metricas GNI? Is it higher or lower than its GDP? What does this suggest about income earned by residents of other countries for their involvement in production in Metrica relative to income earned by residents of Metrica for their involvement in production in the rest of the world?