macroeconomics

There are five questions. Each question is worth one point.1. Why is GDP the same whether computed via the “expenditures” approach or the “resource-cost income” approach?Hint: This is a general question, but is applicable to questions 2-3.]For questions 2-5, consider the following list of data for a country for a given year.Amounts are in billions of dollars.Your answers should be based on the U.S. national-accounts.Hint: Before answeringquestions 2-3, read all questions 1-5.Item AmountCompensation of Employees (CE) 63Consumption (C) 55Depreciation (DEP) 20Government consumption and gross investment (G) 13Gross private investment (I) 35Interest (INT) 6Net exports of goods and services (NX) -3Net income of foreigners (NIF) -1Nonmarket Production (NMP) 20Profits (PR) 5Proprietors’ Income (PI) 2Purchases of stocks by households and firms (PBS) 55Profits (PR) 5Proprietors’ Income (PI) 2Rent (R) 3Sales Taxes (ST) 22. Compute GDP via the “expenditures” approach. Show your work. You may refer to the items via the abbreviations shown.3. Compute GDP via the “resource-cost income” approach. Build up GDP by first computing national income; then incorporate other items. Show your work. You may refer to the items via the abbreviations shown.4. Two items in the list are negative. How can these items be negative and yet be components of GDP? Could these itemsbe positive and still be components of GDP? Explain carefully and thoroughly.5.Two items in the list are not part of the answers to 2-3. Which are the items and why do they not enter the answers? Explain carefully and thoroughly.