question 1 extend response

QUESTION 1 2 points (Extra Credit) Save Answe The following outline provides a complete description of all economic activity in glorious nation of Wakanda for 2020. 1. There are thousands of farmers/prospectors but only two big business firms in Wakanda: Vibranium Shileds (a vibranium shields manufactrer) and Amazing Foods (a chain of grocery stores). There is no government and no depreciation il. Vibranium Shieds Inc produced 200 tons of vibranium, which it exported to international markets and sold for $2 billion per ton and 500 vibranium shields, 400 of which it exported and sold for $1 billion each, and 100 vibranium shiteds are sold to domestic consumers II. Sales at Amazing Foods amounted to $400 billion, all sold to domstic consumers. iv. All farmers in Wakanda are self-employed and sell their food stuffs to Amazing Foods. v. The costs in all Wakanda businesses were as follows: Vibranium Shields Inc Amazing Foods Farmers/prospectors Wages $150 billion $50 billion 10 Interest 550 billion $ 10 billion $20 billion Rent $20 billion $20 billion $30 billion Purchases of vibranium ore S200 billion lo lo 0 Purchases of food $150 billion 10 Describe verabally or write down the formula that you'd use to compute Gross Domestic Product of Wakanda Apply this formula and provide numerical result for Wakanda's GDP. Show you work. For the toolbar, press ALT F10 (PC) or ALT+FN+F10 (Mac). BI S Paragraph Arial 2 A 10pt I. 6 = = = = %ota Q X2 X