ECON$2152$A: In$-$Class Exercise $1$

Fengfan Xiang ${?}^1$

In a fictional country called P people only consume corn bread with peanut sauce. Corn farmers produce corn and sell it to the bakers who produce corn bread with it$.$ Peanut farmers grow peanuts, and then make a sauce they sell directly to consumers. The government raises taxes and pays for basic infrastructure like roads, bridges, and water. P also trades with another country called Q$.$ Q sells clothing and books, and buys corn bread and peanut sauce from P$.$ In year $t+1$ the following transactions occur:

$\backslash$table$[[$Corn Farmers,$