Question
In the country of Kwaki, people fish for salmon and grow corn. In one year they fished $90 million worth of salmon. They consumed $75
In the country of Kwaki, people fish for salmon and grow corn. In one year they fished $90 million worth of salmon. They consumed $75 million domestically and sold $15 million to neighboring countries. They grew $65 million of corn, consumed $45 million domestically, sold $18 million to other countries and used the other $2 million of corn for feeding the salmon. They purchased $8 million worth of potatoes from neighboring countries. Some citizens of neighboring countries came to Kwaki to work as seasonal workers in harvest time and earned $5 million.
Calculate the magnitudes of
a) (2 points) Net exports: $Answer
million
b) (3 points) Current account balance: $Answer
million
c) (3 points) GDP: $Answer
million
d) (2 points) GNP: $Answer
million
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