! PubThe population of country X is 1,000 people. Here are the expenditures for country X for oneyear.Consumption Expenditures$500,000Investment ExpendituresGovernment Expenditures$400,000$150,000Imports$50,00024. What is the GDP of country X?25. What is the per capita GDP of Country X?26. The city of Detroit has high unemployment. The automobile industry in Detroit has sufferedfrom global competition and has moved much of the remaining production out of Detroit.The population of the city has fallen from a high of 1,850,000 in 1950 to 701,000 in 2013. Someof the highest crime rates in the United States are now those of Detroit, and huge areas of the cityare in a state of severe urban decay. The police force and fire service do not have enough moneyto pay for staff and equipment such as fully operational vehicles. In 2013, Detroit filedthe largest municipal bankruptcy case in U.S. history.How does unemployment affect the income of city? Describe how unemployment might lead tocity bankruptcy.terviewVided

The term GDP means the aggregate total output produced by a country in the current year. This…

Answered: 24. What is the GDP of country X? 25.…

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Economics

24. What is the GDP of country X? 25. What is the per capita GDP of Country X?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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