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Question - Suppose the Following information was published by Australia Bureau of Statistics in 2017:
Item
Amount (AUD billion)
Household consumption (C)
1029.81
Government consumption
340.92
Exports
386.39
Value of cocaine seized at Sydney Airport
10,500
Value of intermediate goods in tractor Manufacturing
52,003
Gross private domestic investment (I)
352.69
Imports
386.95
Components used in the manufactrure of cars
40,000
Gifts
15,236
Government investment
88.19
Value of second-hand goods
500.00
Use the information to answer the following questions:
i) Identify the items that are not included in the GDP calculation.
ii) Calculate Australia's GDP in 2017.
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