Assume a simple economy with no government and no foreign trade. The firm produces 100 units of output, sells 80 to consumers for a price of $1, and adds the remaining 20 to its inventory at a price of $0.75. Each unit costs $0.75 to produce, which is equal to the labor cost. There are no other costs associated with production.
(A) Name thee weys yau cauld measure GDP fram these data.
(B) Shaw haw yau wauld perfarm each calculation.

Question

Assume a simple economy with no government and no foreign trade. The firm produces 100 units of output, sells 80 to consumers for a price of $1, and adds the remaining 20 to its inventory at a price of $0.75. Each unit costs $0.75 to produce, which is equal to the labor cost. There are no other costs associated with production.
 (A) Name thee weys yau cauld measure GDP fram these data.
(B) Shaw haw yau wauld perfarm each calculation.

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The Answer of Assume a simple economy with no government and no foreign trade. The firm produces 100 units of output, sells 80 to consumers for a price of $1, and adds the remaining 20 to its inventory at a price of $0.75. Each unit costs $0.75 to produce, which is equal to the labor cost. There are no other costs associated with production.
 (A) Name thee weys yau cauld measure GDP fram these data.
(B) Shaw haw yau wauld perfarm each calculation.

Assume a Simple Economy with No Government and No Foreign