Shown below is the Gross Domestic Product (GDP) of a small economy by category of expenditure: J$ (million) Consumer exp

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Shown below is the Gross Domestic Product (GDP) of a small
economy by category of expenditure: J$ (million) Consumer
expenditure 2 800 Government final consumption 750 Gross domestic
fixed capital formation 700 New housing 80 Export of goods and
services 880 Import of goods and services 1 000 Taxes on
expenditure 700 Receipt of factor income from rest of the world 400
Subsidies 120 Payment of factor income to the rest of the world 300
Capital consumption 350
A. Define GDP. (2 marks)
B. Calculate: i. Net export (2 marks)
ii. GDP at market price (3 marks)
iii. GDP at factor cost (3 marks)
C. Provide an explanation for TWO (2) of the elements used to
calculate GDP using the expenditure method. (4 marks)
D. Describe TWO (2) limitations and ONE (1) use of national
income.