Question 16 (3 points) J Saved Calculate GDP for the economy described below: A simple economy has four industries: The agricultural industry sells 45 million USD in food products directly to households as well as 35 million USD to the steel industry, which turns the food into biofuel for their factories. The iron mining industry produces iron, all of which is sold to the steel industry. Total sales to the steel industry are 200 million USD per year. The coke industry produces coke which is combined with iron to make steel. Total sales to the steel industry are 45 million USD per year. The steel industry processes the iron and coke together to make steel. The steel industry sells 300 million USD to the auto industry to make cars per year. Assume another 70 million USD is sold directly to consumers/households and companies to put up steel fencing around their properties. The auto industry uses steel from the steel industry as well as other inputs (that it creates on its own) to sell 725 million USD in vehicles to the public. GDP is $___mi||ion