Himani and Ravi live in a deserted nation called Desertland. Himani spends all her time growing bananas and coconuts. This year, she harvested 1000 bananas and 500 coconuts. She values one coconut as worth two bananas. Himani gave Ravi 200 bananas and 100 coconuts in exchange for help in harvesting the fruits. Himani stored 100 bananas in her house for future consumption, while Ravi consumed all his bananas and coconuts. In terms of coconuts, calculate the GDP of Desertland using the following: 1a. Expenditure method 1b. Income method

Himani and Ravi live in a deserted nation called Desertland. Himani spends all her time growing bananas and coconuts. This year, she harvested 1000 bananas and 500 coconuts. She values one coconut as worth two bananas. Himani gave Ravi 200 bananas and 100 coconuts in exchange for help in harvesting the fruits. Himani stored 100 bananas in her house for future consumption, while Ravi consumed all his bananas and coconuts. In terms of coconuts, calculate the GDP of Desertland using the following: 1a. Expenditure method 1b. Income method

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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