AB 204 Unit 5 Assignment
directly as part of GDP, but the value of intermediate goods produced and not sold is included directly as part of GDP.
3) GDP is defined as the market value of all final goods and services produced within a country in a given period of time. In spite of this definition, some production is left out of GDP. Explain why some final goods and services are not included.
4) The table below contains data for country A for the year 2010. ==============================================
AB 204 Unit 5 Assignment
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1) Assume there is a simple economy where people consume only 2 goods, food and clothing. Further assume that the market basket of goods used to compute the CPI consists of 100 units of food and 20 units of clothing.
2) Calculate how much each of the following items is worth in terms of today ' s dollars using 180 as the price index for today.
3) The table below uses data for 3 hypothetical countries. All the number values are in thousands. Complete the blank entries in the table below.