Answers
1. This economy is a net exporter since exports (2400) are higher than imports (1200)
2. GDP as per income approach
GDP = Wages + Interest, Rent and profit + Depreciation + Indirect taxes = 11600+6000+5316+2684 = 25600
GDP as per expenditure approach
GDP = Consumption expenditure + Investments + Govt expenditure + Exports - Imports= 16000+4400+4000+2400-1200 = 25600
3. This transaction doesn't affect the GDP of 2017. Only investment as per economic definition, i.e., creation of assets that help produce goods, are included in GDP.
This house was included in GDP in 2010, i.e., when it was constructed.
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