Answered: If a country produces the following…

If a country produces the following items during the year, calculate GDP. Item Quantity Price Market Value (Quantity x Price) Cars 10 $20,000 Computers 100 $1, 000 Books 1,000 $10 GDP =

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

If a country produces the following items during the year, calculate GDP.
Item Quantity Price Market Value
(Quantity x Price)
Cars 10 $20,000
Computers 100 $1, 000
Books 1,000 $10
GDP =

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GDP = $3,10,000 is this really a number?

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