What is the predicted volume of trade between Alada and Belam? $3,000. (Enter your response as an integer.) If Canson has the same trading volume with Alada as does Belam, Canson's GDP must be $ (Enter your response as an integer.)

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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Use the following expression for the gravity model and the table's hypothetical data to answer the questions below:
Y₁xYj
Country
Alada
Belam
Canson
T₁ = 0.001 x D₁
GDP
$15,000
$20,000
$
Distance from:
Alada
100 km
100 km
Distance from:
Belam
100 km
100 km
What is the predicted volume of trade between Alada and Belam? $3,000. (Enter your response as an integer.)
If Canson has the same trading volume with Alada as does Belam, Canson's GDP must be $ (Enter your response as an integer.)
Transcribed Image Text:Use the following expression for the gravity model and the table's hypothetical data to answer the questions below: Y₁xYj Country Alada Belam Canson T₁ = 0.001 x D₁ GDP $15,000 $20,000 $ Distance from: Alada 100 km 100 km Distance from: Belam 100 km 100 km What is the predicted volume of trade between Alada and Belam? $3,000. (Enter your response as an integer.) If Canson has the same trading volume with Alada as does Belam, Canson's GDP must be $ (Enter your response as an integer.)
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