Suppose a small country is ruled by a military Junta. The government buys a new jet...

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Suppose a small country is ruled by a military Junta. The government buys a new jet for $70 million. The citizens of the country grow vegetables and sell them to China as exports valued at $20 million. The local Mafia sells $30 million in illegal guns but does not report it to the government. A local chef provides cooking services to the local Mafia's "Godfather" in exchange for a place to live (barter); however, the chef receives no pay. What will the reported GDP be for this country? Hotel Cate Suppose a small country is ruled by a military Junta. The government buys a new jet for $70 million. The citizens of the country grow vegetables and sell them to China as exports valued at $20 million. The local Mafia sells $30 million in illegal guns but does not report it to the government. A local chef provides cooking services to the local Mafia's "Godfather" in exchange for a place to live (barter); however, the chef receives no pay. What will the reported GDP be for this country? Hotel Cate

Answer rating: 100% (QA)

The reported Gross Domestic Product GDP of a country is typically calculated as the sum of co... View the full answer