Table 12-9 -Refer to Table 12-9

question 122

Essay

Table 12-9
$\begin{array}{|l|r|r|}\hline \text { Product } & \text { Quantity } & \text { Priceper Unit } \\\hline \text { Steel } & 1,000 & \$ 100 \\\hline \text { iPods } & 5,000 & 200 \\\hline \text { Autos } & 500 & 25,000 \\\hline \text { Legal services } & 100 & 2,000 \\\hline\end{array}$
-Refer to Table 12-9.Suppose that the above table represents the goods and services produced in a very simple economy in 2018.Assume that steel is used as an input in the production of autos.Using that information,calculate GDP for the year 2018.

---

Definitions:

Long-Term Liabilities

Debts or obligations that are due more than one year in the future.