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' 10. Consider two countries, the United States (U.S.) and Japan. In the U.S., there are two rms, Pikes Peak Steel (PPS) and General Motors

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' 10. Consider two countries, the United States (U.S.) and Japan. In the U.S., there are two rms, Pikes Peak Steel (PPS) and General Motors (GM), both owned by US. citizens. In Japan, there is one rm, Toyota, owned by Japanese citizens. All of the employees of PPS and GM are U.S. citizens and all of the employees of Toyota are Japanese citizens. In a given year, PPS produces $6000 worth of steel and pays wages of $1500. It sells $2000 worth of steel to GM and $4000 worth of steel to Toyota. GM buys $2000 worth of steel from PPS and pays wages of $4000. GM produces $8000 worth of cars during the year; it sells $5500 worth of cars to consumers in the U.S., $1500 worth of cars to the U.S. government, and $1000 worth of cars to consumers in Japan. Toyota buys $4000 worth of steel froni PPS and pays wages of $2500. Toyota produces $9500 worth of cars during the year; it sells $5000 worth of cars to consumers in the U.S., $1000 worth of cars to the Japanme government, and $3500 worth of cars to consumers in Japan. For the US. and Japan, calculate the following (please show your work) a. Gross domestic product (GDP) using the income and expenditure approaches

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