ECON 104 Homework 2 Answer (ECON 104 Homework 2 Answer (Penn State Universit)

Darryl's profit from selling dried apricots is: Fannie’s profit from selling fresh apricots is: Use the income approach to calculate nominal GDP. Fill in the blanks in the table below. Enter numbers with no commas, no dollar signs and no decimals. For example, if your answer is $12,000 you would enter 12000 into the appropriate box. Now let’s use the expenditure approach to calculate nominal GDP. So here we will add up all consumer spending on FINAL goods in this economy. Remember that the ...

Darryl's profit from selling dried apricots is: Fannie’s profit from selling fresh apricots is: Use the income approach to calculate nominal GDP. Fill in the blanks in the table below. Enter numbers with no commas, no dollar signs and no decimals. For example, if your answer is $12,000 you would enter 12000 into the appropriate box. Now let’s use the expenditure approach to calculate nominal GDP. So here we will add up all consumer spending on FINAL goods in this economy. Remember that the ...