2. Consider the interindustry table below. Now assume that the price of each item in year 2050 is given as follows: Grain: $8,000/t Ingredient: $250/stuff Clothes: $500/clothes |M5): How many tons of grain are used to produce ingredient? a. Nothing b. 200 t c. 300 t d. 400 t e. 500 t [M6]: What is the GDP of this year? a. $9 million b. $11.2 million c. $12.2 million d. S16.2 million e. $21.2 million [M7]: Suppose the prices in year 2060 change as follows: Grain: $10,000/t Ingredient: $300/stuff Clothes: $500/clothes But the amounts of products are the same as the following table, then what is the GDP of 2060? a. $9 million b. $10 million c. $12.2 million d. $15 million e. $25 million
2. Consider the interindustry table below. Now assume that the price of each item in year 2050 is given as follows: Grain: $8,000/t Ingredient: $250/stuff Clothes: $500/clothes |M5): How many tons of grain are used to produce ingredient? a. Nothing b. 200 t c. 300 t d. 400 t e. 500 t [M6]: What is the GDP of this year? a. $9 million b. $11.2 million c. $12.2 million d. S16.2 million e. $21.2 million [M7]: Suppose the prices in year 2060 change as follows: Grain: $10,000/t Ingredient: $300/stuff Clothes: $500/clothes But the amounts of products are the same as the following table, then what is the GDP of 2060? a. $9 million b. $10 million c. $12.2 million d. $15 million e. $25 million
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter7: Macroeconomic Measurements, Part Ii: Gdp And Real Gdp
Section: Chapter Questions
Problem 9WNG
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please answer M5, M6, M7
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