Using the information in the table below, calculate GDP using the expenditure approach. NZSNA component $billions Gross fixed capital formation - investment 41 Net indirect taxes 34 Exports 10 Imports Consumption expenditure - private Consumption expenditure - government Gross operating surplus O$136 billion O $170 billion $129 billion $148 billion 48 a ô 40 53

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The theory of absolute advantage was given by Adam Smith in the year 1776.