The following provides data for an economy in a certain year.Consumption expendituresImportsGovernment purchases of goods and services $700$1,000$600Construction of new homes and apartments $500$600$500$300$600Sales of existing homes and apartmentsExportsGovernment transfer paymentsHousehold purchases of servicesBeginning-of-year inventoryEnd-of-year inventory$500$600$300Business fixed investmenta.) How much did households spend on goods (durable and nondurable) during this year?[ Select ]b.) Compute the investment component (I) of GDP. [Select ]c.) After consumption, which sector of the economy contributed the most to GDP?[ Select ]d.) Does this economy have a trade deficit or a trade surplus?[ Select ]e.) What is the GDP for this economy? [ Select ]f.) What method are we using here to compute GDP? [ Select ]

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Consumption expenditures Imports Government purchases of goods and services $700 Construction of new homes and apartments $500 Sales of existing homes and apartments Exports Government transfer payments Household purchases of services Beginning-of-year inventory End-of-year inventory Business fixed investment $1,000 $600 $600 $500 $300 $600 $500 $600 $300 a.) How much did households spend on goods (durable and nondurable) during this year? [ Select ] b.) Compute the investment component (I) of GDP. [Select ] c.) After consumption, which sector of the economy contributed the most to GDP? [ Select 1