Consider the following data, which shows the quantities and prices of two goods produced in the economy, to answer the following questions: 
-Assuming these are the only two goods produced in the economy,what is the value of the gross domestic product (GDP) ?
Definitions:
Independent Events
Two or more events where the occurrence of one does not affect the probability of the other(s).
Event Will Not Occur
The probability that a specific event does not happen, which can be calculated by subtracting the event’s probability of occurring from 1.
Conditional Probability
The likelihood of one event happening after another event has already taken place.
Independent Events
Events whose occurrence or outcome is not influenced by one another; the outcome of one event does not affect the outcome of another.
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