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Identify the items that not included in the GDP calculation

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Reference no: EM133126427

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.

Reference no: EM133126427

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