Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Suppose we have the country of Melanie-opolis. Further suppose that we have the following: People in Melanie-opolisspend $110,000,000 on food and cars produced in the
Suppose we have the country of Melanie-opolis. Further suppose that we have the following:
- People in Melanie-opolisspend $110,000,000 on food and cars produced in the country in 2021.
- Firms in Melanie-opolisspend $40,000,000 on equipment produced in the country in 2021.
- Government in Melanie-opolisspends $18,000,000 on uniforms produced in the country of Cynthia-ville in 2021.
- People in Cynthia-ville spend $50,000,000 on goods produced in the country of Melanie-opolisin 2021.
- People in Melanie-opolisalso spend $30,000,000 on purchases of existing bonds (that were originally produced in 2018).
What percent of Melanie-opolis' 2021 GDP is consumption?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started