The US and Peru are the only countries in the world and they both produce cars and haircuts. The table below gives you the data on the quantity produced, the unit price of each item and the value of output for each sector. Cars Haircuts GDP The US (currency=USS) Quantity (units) 1000 2000 Price (USS) 100 5 Value of Output (USS) 100,000 10,000 Peru (currency - Sol) Quantity (units) 200 4000 What is the GDP of Peru in USS at the most likely market exchange rate? the GDP of Peru in USS is: 240,000/2-US$120,000 the GDP of Peru in USS is: 160,000/8=US$20,000 the GDP of Peru in USS is: 160,000/2-US$80,000 the GDP of Peru in USS is: 240,000/8-US$30,000 Price (soles) 800 20 Value of Output (soles) 160,000 80,000
The US and Peru are the only countries in the world and they both produce cars and haircuts. The table below gives you the data on the quantity produced, the unit price of each item and the value of output for each sector. Cars Haircuts GDP The US (currency=USS) Quantity (units) 1000 2000 Price (USS) 100 5 Value of Output (USS) 100,000 10,000 Peru (currency - Sol) Quantity (units) 200 4000 What is the GDP of Peru in USS at the most likely market exchange rate? the GDP of Peru in USS is: 240,000/2-US$120,000 the GDP of Peru in USS is: 160,000/8=US$20,000 the GDP of Peru in USS is: 160,000/2-US$80,000 the GDP of Peru in USS is: 240,000/8-US$30,000 Price (soles) 800 20 Value of Output (soles) 160,000 80,000
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
ChapterA: The Use Of Mathematics In Principles Of Economics
Section: Chapter Questions
Problem 3RQ: Exercise A3 What dome slices of a pie chart represent?
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![The US and Peru are the only countries in the world and they both produce cars and haircuts. The table below gives you the data on the quantity produced, the unit price of each item and the
value of output for each sector.
Cars
Haircuts
GDP
The US (currency = US$)
Quantity
(units)
1000
2000
Price (USS)
100
5
Value of
Output (USS)
100,000
10.000
Peru (currency = Sol)
Quantity
(units)
200
4000
What is the GDP of Peru in USS at the most likely market exchange rate?
the GDP of Peru in US$ is: 240,000/2-US$120,000
the GDP of Peru in US$ is: 160,000/8=US$20,000
the GDP of Peru in US$ is: 160,000/2-US$80,000
the GDP of Peru in US$ is: 240,000/8-US$30,000
Price (soles)
800
20
Value of
Output (soles)
160,000
80,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4b80beb3-7f20-4cd8-9570-8d0670fcd8d3%2Fab1c551a-03ea-47b2-ac62-a94d51ed24ed%2F600my7w_processed.png&w=3840&q=75)
Transcribed Image Text:The US and Peru are the only countries in the world and they both produce cars and haircuts. The table below gives you the data on the quantity produced, the unit price of each item and the
value of output for each sector.
Cars
Haircuts
GDP
The US (currency = US$)
Quantity
(units)
1000
2000
Price (USS)
100
5
Value of
Output (USS)
100,000
10.000
Peru (currency = Sol)
Quantity
(units)
200
4000
What is the GDP of Peru in USS at the most likely market exchange rate?
the GDP of Peru in US$ is: 240,000/2-US$120,000
the GDP of Peru in US$ is: 160,000/8=US$20,000
the GDP of Peru in US$ is: 160,000/2-US$80,000
the GDP of Peru in US$ is: 240,000/8-US$30,000
Price (soles)
800
20
Value of
Output (soles)
160,000
80,000
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