GNP: $Answer million

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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Solve (d) parts onlys. 

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In the country of Kwaki, people fish for salmon and grow corn. In one year they fished $35 million worth of salmon. They consumed $23 million domestically and sold $10 million to neighboring countries. The other $2 million of the salmon were used as fertilizer for corn. They grew $43 million of corn, consumed $31 million domestically and sold $12 million to other countries. They purchased $20 million worth of potatoes from neighboring countries, and some of the citizens of Kwaki went to neighboring countries to work as seasonal workers in harvest time and earned $5 million.

Calculate the magnitudes of

a) Net exports: $Answer million

b) Current account balance: $Answer million

c)GDP: $Answer million

d) GNP: $Answer million

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