Question

George and John, stranded on an island, use clamshells for money. Last year George caught 420 fish and 12 wild boars. John grew 200 bunches of bananas. In the two-person economy that George and John set up, fish sell for 1 clamshell each, boars sell for 10 clamshells each, and bananas go for 5 clamshells per bunch. George paid John a total of 30 clamshells for helping him to dig bait for fishing, and he also purchased five of John's mature banana trees for 30 clamshells each. What is the GDP of George's and John's island in terms of clamshells? Instructions: Enter your response as an integer value. GDP clamshells

Answer 1

Answer

1) GDP year 1 is 420 fish, 12 boars, 200 bananas,
You can then list down all the good produced on the island and add them together using your currency as a measure; in this case clamshells.

2) GDP year 1 a total combination of the following:
- is 420 fish * 1 clamshell = 420 CS worth of fish
12 boars * 10 clamshells = 120 CS worth of boar
200 banana bunches * 5 clamshells = 1000 CS worth of bananas

420+120+1000 = 1540 CS total GDP in clamshells.