| Question | The table shows data from the United Kingdom in 2005. Items Billions of pounds Wages paid to labour …………………………. 685 Consumption expenditure ……………………. 791 Taxes …………………………………………. 394 Transfer payments …………………………… 267 Profits ………………………………………… 273 Investment ……………………………………. 209 Government expenditure ……………………. 267 Exports ……………………………………….. 322 Saving ………………………………………… 38 Imports ……………………………………….. 366 a. Calculate GDP in the United Kingdom. b. Explain the approach (expenditure or income) that you used to calculate GDP. |
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| Subject | business economics |
