Answered: If a country produces the following…

If a country produces the following items during the year, calculate GDP. Item Quantity Price Market Value (Quantity x Price) Cars 10 $20,000 Computers 100 $1, 000 Books 1,000 $10 GDP =

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter11: Gross Domestic Product

Section: Chapter Questions

Problem 4SQ

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Question

If a country produces the following items during the year, calculate GDP.
Item Quantity Price Market Value
(Quantity x Price)
Cars 10 $20,000
Computers 100 $1, 000
Books 1,000 $10
GDP =

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GDP = $3,10,000 is this really a number?

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