15 2 9 1 5) The following table shows the results of the operations of a laptop producer in 2020. Price per Unit of the Product $800.00 Quantities Produced and Sold 10,000.00 Cost of Materials and Components $3,600,000.00 Purchased Wages Paid to Workers $450,000.00 Interest Paid to the Bank $45,000.00 Rent Paid to the Property Owner $40,000.00 How much factor income was generated in 2020 as a result of this firm's economic activities? Answer = dollars. 1 10 1 5) The government of a small island country is concerned about a few things and has hired you as an economic consultant to do some economic analysis for 2020. First, the government is worried that the inflation rate in the country is too high. This could reduce the purchasing power and the standards of living of the residents. Second, it suspects that the residents are importing too much goods and services from foreign countries. This could result in unemployment in the island. Third, and finally, it fears that the entrepreneurs are making too much profit and this could lead to unrest in the country. The government has been able to calculate the following statistics (converted to dollars), which you will use to carry out your assignment. All the data pertain to 2020. All the numbers except for real GDP are in nominal terms. The base year in this country for the calculation of real GDP is 2019. GDP Information: Nominal GDP = $106,000,000 Real GDP = $100,000,000 Expenditures: Consumption = $90,100,000 Investment = $12,000,000 Government Purchases = $6,000,000 Exports = $4,000,000 Factor Incomes: Wages = $65,000,000 Interest = $20,000,000 Rent = $5,000,000 You calculate that in 2020: Inflation rate over 2019 = percent Imports = dollars Profits = dollars Enter the numbers without a dollar sign or a percentage sign and with two decimal places