The US and Peru are the only countries in the world and they both produce cars and haircuts. The table below gives you the data on the quantity produced, the unit price of each item and the value of output for each sector. Cars Haircuts GDP The US (currency=USS) Quantity (units) 1000 2000 Price (USS) 100 5 Value of Output (USS) 100,000 10,000 Peru (currency - Sol) Quantity (units) 200 4000 What is the GDP of Peru in USS at the most likely market exchange rate? the GDP of Peru in USS is: 240,000/2-US$120,000 the GDP of Peru in USS is: 160,000/8=US$20,000 the GDP of Peru in USS is: 160,000/2-US$80,000 the GDP of Peru in USS is: 240,000/8-US$30,000 Price (soles) 800 20 Value of Output (soles) 160,000 80,000

The US and Peru are the only countries in the world and they both produce cars and haircuts. The table below gives you the data on the quantity produced, the unit price of each item and the value of output for each sector. Cars Haircuts GDP The US (currency=USS) Quantity (units) 1000 2000 Price (USS) 100 5 Value of Output (USS) 100,000 10,000 Peru (currency - Sol) Quantity (units) 200 4000 What is the GDP of Peru in USS at the most likely market exchange rate? the GDP of Peru in USS is: 240,000/2-US$120,000 the GDP of Peru in USS is: 160,000/8=US$20,000 the GDP of Peru in USS is: 160,000/2-US$80,000 the GDP of Peru in USS is: 240,000/8-US$30,000 Price (soles) 800 20 Value of Output (soles) 160,000 80,000

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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