Answer to Question #135297 in Economics of Enterprise for mohamed

Question

An economy has two main types of industry. One produces services and the other produces goods.

The service industries produce services for households and businesses with a total market value of $11,000. The goods industries produce goods for the use of both households and businesses with a total market value of $16,000. The service industries spend $1,700 on computers and paper and envelopes supplied by the goods industries. The goods industries spend $1,900 to buy financial, insurance, advertising, and custodial supplies from the service industries.

Find the final value of each industry and the nominal GDP of the economy. Please make sure your final answer(s) are accurate to the nearest whole number.

final value of goods. ?

nominal gdp. ?

final value of services ?

Answer 1

Dear mohamed, your question requires a lot of work, which neither of our experts is ready to perform for free. We advise you to convert it to a fully qualified order and we will try to help you. Please click the link below to proceed: Submit order