Question

Suppose we have the country of Mario-opolis. Further suppose that for the year 2019 we have the following information: Government in Mario-opolis spends $100,000,000 on food and cars produced in Mario-opolis in 2019 Firms in Mario-opolis spend $5,000,000 on equipment made in Mario-opolis in 2019 People in Mario-opolis spend $10,000,000 on uniforms produced in Maribel-stan in 2019 People in Maribel-stan spend $10,000,000 on goods produced in Mario-opolis in 2018 People in Mario-opolis also spend $30,000,000 on food and cars produced in Mario-opolis in 2019 What is the GDP for Mario-opolis for 2019? $85,000,000 $135,000,000 $145,000,000 $160,000,000 Not enough information

Answer 1

The GDP for Mario-opolis for 2019 is $145,000,000

Step-by-step explanation:

GDP: The full form of GDP is the Gross domestic product. It shows all the products and services which are produced and rendered in a particular year. The value of all products and service records only market value.

The production and the rendering of services should be done for a domestic country only. No other or outside countries should come under GDP, nor they record any previous or future production, expenses.

So, the GDP amount would be

= Government in Mario-opolis spends on food and cars produced in Mario-opolis in 2019 + Firms in Mario-opolis spend on equipment made in Mario-opolis in 2019 + People in Mario-opolis spend on uniforms produced in Maribel-stan in 2019 + People in Mario-opolis also spend on food and cars produced in Mario-opolis in 2019

= $100,000,000 + $5,000,000 + $10,000,000 + $30,000,000

= $145,000,000