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

[answerhappygod]

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)