microeconomics

Paragraph Styles 28 - 31. In small economy, gross investment is $1,500, consumption spending is $ 6,000, net investment is 200, government purchases are $1,500, exports are $2,000 and imports are $1000. What is GDP for this economy? Answer: Product Quantity Price Apple 20 $125.00 T-shirts 100 20.00 Coke 2,000 1.00 Bananas 600 0.50 32 - 33. Refer to table above. Suppose a simple economy produces only four goods and services. Calculate nominal GDP for this simple economy. Answer: Year Guns Price of Butter Price of Produced Guns Produced Butter 2009 80 $5 40 $4 2018 90 6 60 10 Consider the following data for Tyrovia, a country that produces only two products: Guns and Butter: 34 - 35. Refer to table above. Compute the real GDP for Tyrovia for 2018 using 2009 as the base year equals