Answer Happy

The tables below show the components of GDP for two neighbouring countries: Altis and Stratis 1. Using the information in the tables below calculate the GDP of Altis and Stratis, you must include the formulae and show your calculation. (3 Marks) COMPONENTS OF GDP (billions of US Dolan COMPONENTS OF GDP (billions of US Dolar Consumption Consumption Goods 986 Goods 257 Services 697 Services 108 Investment Investment 231 Business Investment 69 Business Investment Residential Investment 22 Residential Investment 29 Government Expenditure Government Expenditure Government Purchases 169 Government Purchases 88 Net exports Net exports Exports 339 Exports 158 Imports 237 Imports 931 Table 1: Altiss Economic indicators Table 2: Stratis's Economic indicators II 2. Based on their annual GDP values, evaluate the economic development of Altis and Stratis Which country is performing better and why? Explain your answer. (2 Marks) 3. How can the GDP of countries of different sizes be compared? If the population of Altis and Stratis are 113 millions and 15 millions respectively, what can you say about the economy of these countries, explain your answer in detail? (2 Marks)