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measuring the GDP assignmnt within 12 h measuring the GDP assignmnt within 12 h measuring the GDP assignmnt within 12 h measuring the GDP assignmnt within 12 h measuring the GDP assignmnt within 12 h measuring the GDP assignmnt within 12 h measuring the GDP assignmnt within 12 h measuring the GDP assignmnt within 12 h measuring the GDP assignmnt within 12 h measuring the GDP assignmnt within 12 h measuring the GDP assignmnt within 12 h measuring the GDP assignmnt within 12 h measuring the GDP assignmnt within 12 h measuring the GDP assignmnt within 12 h measuring the GDP assignmnt within 12 h
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Explanation & Answer
Attached.
Surname 1
Name
Supervisor
Course
Date
Answer
a) GDP in year 1
GDP = price of quarts ($4 x 3) + price of shampoo ($3 x 1) + price of the peanut butter ($2 x 3)
Therefore, the GDP for year 1 = $12 + $3 + $6 = $21
b) GDP in year 2
GDP = price of quarts ($4 x 5) + price of shampoo ($3 x 2) + price of the peanut butter ($2 x 2)
Therefore, the GDP for year 2 = $20 + $6 + $4 = $30
Answer
The amount the two transactions add to the personal consumption expenditures is $160,000
This is gotten as follows;
= income of the retailer + grower’s income
Surname 2
= (160000 − 70000) +...
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