The table above shows the transaction in Pinkland last year:

a) Calculate Pinkland's GDP.
b) What approach did you use to make this calculation?

a) GDP = C + I + G + (X - M) = $120 + $30 + $50 + ($30 - $40 ) = $190 million.
b) The expenditure approach is used, which measures GDP as C + I + G + (X - M).