Question: 2. Consider the interindustry table below. Now assume that the price of each item in year 2050 is given as follows: Grain: $8,000/t Ingredient: $250/stuff

2. Consider the interindustry table below. Now assume that the price of each item in year 2050 is given as follows: Grain: $8,000/t Ingredient: $250/stuff Clothes: S500/clothes [M5]: How many tons of grain are used to produce ingredient? a. Nothing b. 200 c. 300 d. 400 e. 500+ [M6): What is the GDP of this year? a. $9 million b. $11.2 million c. $12.2 million d. $16.2 million e. $21.2 million (M7): Suppose the prices in year 2060 change as follows: Grain: $10,000/t Ingredient: S300/stuff Clothes: S500/clothes But the amounts of products are the same as the following table, then what is the GDP of 2060? a. $9 million b. S10 million c. $12.2 million d. $15 million e. $25 million [M8): What is the GDP deflator of 2060 based on 2050? a. 84.8 b. 90 c. about 100.0 d. about 111.1 e. about 117.9 GRAIN INGREDIENT CLOTHES GRAIN INGREDIENT CLOTHES CONSUM-PTION PRUDUCT 400 t 300 t 200 t 500+ 1,400 10,000 10,000 20,000 stuff stuff stuff 10,000 10,000 clothes clothes 70 ha 50 ha 10 ha 500 200 400 people people people 1,400 20,000 10,000 stuff stuff LAND LABOR PRODUCT

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