A). Through Expenditure approach
GDP = C + I + G + NX + gross domestic fixed capital formation
Where, C is household consumption expenditure
I is net private domestic investment
G is government consumption and investment expenditure
NX is export - imports
So, GDP = 720 + 165 + 725 + 3010 + 625 - 550 + 285 = 4980
So GDP is $4980.
GNE = GDP - Net exports
GNE = 4980 - 75 = 4905
So GNE is $ 4905.
b). GNP = GDP + net income from abroad = 4980 - 35 = 4945
So GNP is $4945.
c). Net national product = GDP + net income from abroad
= 4695 - 35 = $4640.
Net national product is $4640.
d). Current account balance = exports - imports = 625 - 550 = 75.
So CAD is $75.
e). Gross national savings;
GNS = GNP - private consumption - Government consumption
= 4945 - 3010 - 720 = $1215.
So, national savings is $1215.
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