Robinson Crusoe produces upper-loop product of $1000. He pays $750 in wages, $125 in interest, and $75

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Robinson Crusoe produces upper-loop product of $1000. He pays $750 in wages, $125 in interest, and $75 in rent. What must his profit be? If three-fourths of Crusoe's output is consumed and the rest invested, calculate Crusoeland's GDP with both the product and the income approaches and show that they must agree exactly.
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Economics

ISBN: ?978-0073511290

19th edition

Authors: Paul A. Samuelson, William Nordhaus

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