There are three firms in an economy: a, b, and c. firm a buys $250 worth of goods from firm b and $200 worth of goods from firm c, and produces 200 units of output, which it sells at $5 per unit. firm b buys $100 worth of goods from firm a and $150 worth of goods from firm c, and produces 300 units of output, which it sells at $7 per unit. firm c buys $50 worth of goods from firm a and nothing from firm b. it produces output worth $1,000. all other products are sold to consumers. instructions: enter your responses as whole numbers. a. calculate gdp. $ 3350 3350 correct b. if a value-added tax (a tax on the total value added by each firm) of 10 percent is introduced, how much revenue will the government get? $ not attempted c. how much would government get if it introduced a 10 percent income tax? $ not attempted d. how much would government get if it introduced a 10 percent sales tax on final output?

Suppose the price of frozen yogurt, a substitute for ice cream, increases. what happens to equilibrium price and quantity of ice cream? a. the price and quantity of ice cream both increase b. the price and quantity of ice cream both decrease c. the price of ice cream increases and the quantity decreases d. the price of ice cream decreases and the quantity increases

Afreelance​ singer-songwriter is planning the restoration of a recently purchased civil​ war-era farmhouse. while he professes an enjoyment​ of, and talent in the construction​ trades, the theory of comparative advantage implies that a. the value of what he imports​ (in this​ case, professional contractor​ services) must equal the value of what he exports​ (songs). b. he should concentrate on the restoration work since his​ out-of-pocket costs will be much lower than if he hires professionals. c. ​self-sufficiency is​ advantageous, hence he should split his time between music and construction. d. the income lost while away from music will likely exceed the savings realized by doing the work​ himself, thus, he should hire professionals to do the restoration work. e. he ought to do as much of the work himself as possible since imports​ (in this​ case, professional contractor​ services) should always be restricted to those things that cannot be done internall

The penalties for a first-time dui charge include revocation of drivers license a. 180 days b. ben 180 des and one year c. bence 90 and 180 d. one year