Question consider the following economy of in which only, Ask an Expert

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Question: Consider the following economy of in which only two firms operate. The activities of the two firms can be summarized as follows:

FIRM A

COSTS			REVENUES

Wages	$120	Exports	$110
Purchases from Firm B	$100	Sales to Firm B	$200
		Sales to the public	$600

FIRM B

COSTS			REVENUES

Wages	$200	Sales to Firm A	$100
Purchases from Firm A	$200	Sales to the public	$400
Taxes	$100

Compute the GDP of this economy using the three (3) approaches to national income?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M92251252

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