The following diagram shows select information for an economy made up of three industries for a particularly year. i+w+r+p=0 m O $330 billion O $600 billion Onone is correct i+w+r+p O $400 billion Industry 2 O $270 billion i+w+r+p S m = 100 m 90 Industry 1 i=interest; w=wages/salaries; r = rent; p = profit; m = intermediate inputs; s= market value of total industry output; f = market value of industry output sold as 'final products. Note: All values are in billions of dollars. f=160 Industry 3 S What is the gross domestic product (at factor prices) for this economy? 10 20 f=0 -f=40 30

The following diagram shows select information for an economy made up of three industries for a particularly year. i+w+r+p=0 m O $330 billion O $600 billion Onone is correct i+w+r+p O $400 billion Industry 2 O $270 billion i+w+r+p S m = 100 m 90 Industry 1 i=interest; w=wages/salaries; r = rent; p = profit; m = intermediate inputs; s= market value of total industry output; f = market value of industry output sold as 'final products. Note: All values are in billions of dollars. f=160 Industry 3 S What is the gross domestic product (at factor prices) for this economy? 10 20 f=0 -f=40 30

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter20: Economic Growth

Section: Chapter Questions

Problem 12SCQ: Why dues productivity growth in high-income economies not slow down as it runs into diminishing...

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Why dues productivity growth in high-income economies not slow down as it runs into diminishing returns from additional investments in physical capital and human capital? Does this show one area where the theory of diminishing returns fails to apply? Why or why not?
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The following diagram shows select information for an economy made up of three industries for a particularly year. i+wtr+p Industry 1 f-40 10 Hwtrtp -0 20 90 30 Industry 2 +f-160 i+wtr+p f-0 Industry 3 m- 100 iminterest, wwages/salaries;r=rent pprofit, m=intermediate inputs, s= maket value of total industry output; f=market value of industry output sold as 'final' products. Note: All values are in billions of doll ars What is the gross domestic product (at factor prices) for this economy? none is correct O $400 billion O $600 billion O $330 billion 24237/take/gustion/200 EX
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