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Question 1

Consider the following table showing the breakdown of GDP (in billions) for Norway.

Consumption1000
Investment500
Government Expenditure200
Exports10
Imports10

Using the expenditure approach, calculate GDP for Norway.

$   Hint

Question 2

Consider the following table showing the breakdown of GDP (in billions) for Mexico.

Consumption1300
Investment500
Government Expenditure100
Exports40
Imports50

1. What are net exports for Mexico.

 

Hint

2. Mexico is experiencing:

Hint