b. In the country of Hypothetica, we have the followinginformation for the year 2015:
*Consumption totalled $2 billion, but 25% of this totalconsisted of goods which were initially sold in 2014.
*A total of $250 million worth of new housing stock wassold.
*Labour wage income was $150 million. *Businesses invested $100million dollars in new capital (i.e. machinery) stock.
*Businesses also bought $200 million dollars worth of companyshares on the stock exchange.
*Foreigners with working visas living in foreign-only householdsbought $100 million worth of locally made goods and services.
*The government spent $500 million building roads.
*Hypothetica is a closed economy, thus they are no exports andimports.
(i) Calculate and explain how you obtained the figure (i.e. whatdid you count, and what did you exclude) for Hypothetica’sconsumption in 2015
(ii) Calculate and explain how you obtained the figure (i.e.what did you count, and what did you exclude) for Hypothetica’sinvestment in 2015
(iii) What was Hypothetica’s GDP in 2015 using the expendituremethod? Explain your answer
