Question
Citizens of SU-country produce grapes and provide tourism services (These are the only production activities carried out in this country). In one year they produced
Citizens of SU-country produce grapes and provide tourism services (These are the only production activities carried out in this country). In one year they produced $240 million worth of grapes, with $156 million consumed domestically and the other $84 million sold to neighboring countries. They provided $108 million worth of tourism services, $72 million in SU-country, and $36 million in neighboring countries (hence, this part of the tourism services is produced outside the borders). They purchased $96 million worth of oil from neighboring countries. There are no other international transactions. Moreover, there are no foreign factors of production that are engaged in production within the borders of SU-country. Calculate the magnitudes of GNP, GDP, net factor payments from abroad, net exports, and the current account balance.
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