)Suppose you are given the following information about the New Zealand economy, with the values in billions of Dollars. What is the GDP of New Zealand? Personal consumption $680 Private investment $370 Government expenditure $430 Exports $710 Imports $295 b) Discuss 2 transactions that are not included in the calculation of GDP and provide an example for each.
)Suppose you are given the following information about the New Zealand economy, with the values in billions of Dollars. What is the GDP of New Zealand? Personal consumption $680 Private investment $370 Government expenditure $430 Exports $710 Imports $295 b) Discuss 2 transactions that are not included in the calculation of GDP and provide an example for each.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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a)Suppose you are given the following information about the New Zealand economy, with the values in billions of Dollars. What is the GDP of New Zealand?
Personal consumption $680
Private investment $370
Government expenditure $430
Exports $710
Imports $295
b) Discuss 2 transactions that are not included in the calculation of GDP and provide an example for each.
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