An economy produces three goods: tents, guns, and apples. The price of each is $1. Households buy 10 tents and 90 apples. The government buys 10 guns. Farmers take the seeds from 10 more apples and plant them. 10 apples are sold to France for $1 each. Households also buy 10 bananas from Canada for $2 each. What are the values of the components of GDP? What is total GDP?

Answer rating: 100% (QA)

GDP is the market value of final goods and services produced in a countr... View the full answer