A simple economy produces four goods,
corncorn,
cornbreadcornbread,
DVD playersDVD players,
and
video gamesvideo games
. All of the production of
corncorn
is used in the production of
cornbreadcornbread.
Use the information in the following table to compute GDP for the current year.
Homework Answers
Ans) 495,630
GDP = 210*3 + 750*600 + 1500*30
= 630 + 450,000 + 45,000
= 495,630
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