The annual output and prices of a 3-good economy are shown in the table below. Quantity...

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The annual output and prices of a 3-good economy are shown in the table below. Quantity of Goods Year 1 4 2 Good Quarts of ice cream Bottles of shampoo Jars of peanut butter Price Year 1 $5 3 2 4 Instructions: Enter your answers as whole numbers. a. What was GDP in year 1? b. What was GDP in year 2? Price Year 2 $5 3 2 Quantity of Goods Year 2 6 3 & 8(28) Saved Assume that a grower of flower bulbs sells its annual output of bulbs to an Internet retailer for $80,000. The retailer, in turn, brings in $155,000 from selling the bulbs directly to final customers. What amount would these two transactions add to personal consumption expenditures and thus to GDP during the year? Instructions: Enter your answer as a whole number. Help The annual output and prices of a 3-good economy are shown in the table below. Quantity of Goods Year 1 4 2 Good Quarts of ice cream Bottles of shampoo Jars of peanut butter Price Year 1 $5 3 2 4 Instructions: Enter your answers as whole numbers. a. What was GDP in year 1? b. What was GDP in year 2? Price Year 2 $5 3 2 Quantity of Goods Year 2 6 3 & 8(28) Saved Assume that a grower of flower bulbs sells its annual output of bulbs to an Internet retailer for $80,000. The retailer, in turn, brings in $155,000 from selling the bulbs directly to final customers. What amount would these two transactions add to personal consumption expenditures and thus to GDP during the year? Instructions: Enter your answer as a whole number. Help

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Answer GDP PQ A 34 GDP in year ... View the full answer