ne economy of Tuland produces only two products fish and watches. The following information is available for production and prices of Tuland's products for the years 2009 and 2010. 2009 120 2010 Quantity of fish Quantity of watches 132 100 130 Price of fish $8.00 $30.00 $9.20 Price of watches $31.50 sing the above information, calculate the following values. (Enter your responses rounded to two decimal places.) GDP for 2009 in 2009's prices GDP for 2009 in 2010's prices GDP for 2010 in 2009's prices

ne economy of Tuland produces only two products fish and watches. The following information is available for production and prices of Tuland's products for the years 2009 and 2010. 2009 120 2010 Quantity of fish Quantity of watches 132 100 130 Price of fish $8.00 $30.00 $9.20 Price of watches $31.50 sing the above information, calculate the following values. (Enter your responses rounded to two decimal places.) GDP for 2009 in 2009's prices GDP for 2009 in 2010's prices GDP for 2010 in 2009's prices

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Calculate GDP given the following. Please leave off the dollar sign in your answers. Item Quantity Price Apples 10 $2 Oranges 20 $2 Bananas 30 $1
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GDP Table Transfer payments Government purchases 32 160 Personal taxes 76 Corporate Income taxes Taxes on production and imports 56 30 Social secunity contributions 16 Undistributed corporate profits Proprietors income 38 50 Compensation of employees Personal consumption expenditures Consumption of fived capital 516 644 Rents 66 Exports 28 Corporate profits 140 nterest 64 Dividends 46 Imports Gross private domestic investment Net foreign factor income eamed Statistical discrepancy 34 126 20 70 Refer to the above data. PI is: Oa. $702. Ob. Sy28. Oe S758. od. Sy26.
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In detail, can you explain what is happening in the graph? Two paragraphs.