1. Consider an economy where there are only three producers. Producer 1 makes sales for $10,000 after purchasing intermediate inputs of production for $3,000. Producer 2 makes sales for $20,000 after purchasing intermediate inputs of production for $5,000. Producer 3 makes sales for $30,000 after purchasing intermediate inputs of production for $10,000. What is the value of GDP for this economy?

2, Consider another economy where consumers purchased consumption goods for $10,000; companies purchased investment goods for $3,000; the government purchases goods and services for $2,000; foreigners purchased locally produced goods for $4,000 (exports); of the consumption and investment expenditures, $2,000 were purchased abroad (imports). What is the value of GDP for this economy?