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
Q)
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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