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Only answer with short explanation (likes calculate), thank you. _ Assume an economy with a coal producerI a steel producer, and some consumers {there is

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Only answer with short explanation (likes calculate), thank you.

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_ Assume an economy with a coal producerI a steel producer, and some consumers {there is no government]. In a given year. the coal producer produces 15 million tons of coal and sells it for $5 per ton. The coal producer pays $50 million in wages to consumers. The steel producer uses 25 million tons of coal as an input into steel production, all purchased at $5 perton. Of this, 15 million tons of coal come from the domestic coal producer and 10 million tons are imported. The steel producer produces 10 million tons of steel and sells it for $20 per ton. Domestic consumers buy 8 million tons of steel, and 2 million tons are exported. The steel producer pays consumers $40 million in wages. All prots made by domestic producers are distributed to domestic consumers. Using the product approach, expenditure approach, or the income approach. compute GDP in this economyr Using the information in Question 10. compute the current account surplus in this economy. D Question 12 1 pts LO 3 In year 1 and year 2, there are two products produced in a given economy, computers and bread. Suppose that there are no intermediate goods. In year 1, 20 computers are produced and sold at $1,000 each. and in year 2, 25 computers are sold at $1,500 each. In year 1. 10,000 loaves of bread are sold for $1.00 each, and in year 2, 12,000 loaves of bread are sold for $1.10 each. Using year 1 as the base year, compute the implicit GDP deator for year 2. D Question 13 1 pts Using the information given in question 12, compute the inflation rate between year 1 and year 2 based on the implicit GDP deflator. Do not include the percent symbol (%) in your answer.D Question 8 1 pts Suppose that GDP is equal to 1000, nation savings is equal to 200, the current account deficit is equal to 100, and the government budget deficit is equal to 50. Privates savings must equalQuestion 9 1 pts Assume that in an economy with 200 million inhabitants, 90 million are working, 4 million are looking for a job, 3 million receive unemployment insurance compensation, and .5 million receive unemployment insurance compensation and are looking for a job. What is the unemployment rate? 0 5.5% 0 10% Q 13% 05%

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