Problem 1 The table below reflects the economic activity of a simple economy over the past year (amounts in millions of dollars). What can you determine about this country's economy? Economic Activity Amount Spent (in millions of dollars) Food production $60 Agricultural exports $40 Clothing purchases $30 Domestic new car sales $50 Imported new cars $20 Domestic used car sales $30 New homes purchased $10 Sales of existing homes $100 Factories built $60 Military spending $40 Problem 1.1 - ..Match the table entry with the correct type of GDP spending (or indicate that it is not counted in GDP). Drag and drop options on the right-hand side and submit. For keyboard navigation... SHOW MORE v Food production Consumption Agricultural exports Net exports Clothing purchases = Not counted in GDP Sales of domestically produced new cars Consumption Sales of imported cars Investment Sales of used cars Net exports New homes purchased Consumption Sales of existing homes Investment Factories built Not counted in GDP Military spending GovernmentProblem 1.2 Homework . Answered Calculate total GDP in this economy over the year. Give your answer in millions of dollars. Type your numeric answer and submit 250 X You are incorrect Answered - Incorrect Resubmit Problem 1.3 Homework . Unanswered Now think about total income in this economy. Suppose you know the following: wages, salaries, and benefits were $180 million during the year. Proprietors' income was $20 million, net interest was $10 million, and rent was $10 million. What must corporate profits have been during the year? Ignore the potential effects of sales and excise taxes. Give your answer in millions of dollars. Type your numeric answer and submit Unanswered Submit Problem 1.4 Homework . Unanswered If the population in this country is 200,000 people, what is GDP per capita? Type your numeric answer and submit Unanswered Submit