Question 1 Assume aggregare revenues of the workers is 400 billion dollar in Mexico. Assume share of workers from GDP is between 20-60% share of capital is 20-60%, and share of other types of income is 10%, a) Calculate GDP, aggregate profits, and aggregate value of other types of income in Mexico. b) Assume aggricultural sectore makes up 30% of Mexico's GDP, industrial sector 50% and service sector 20% of the GDP. In all sector input costs are 30% of the revenues revenues. Calculate value added and input costs of each sector.

Question 1 Assume aggregare revenues of the workers is 400 billion dollar in Mexico. Assume share of workers from GDP is between 20-60% share of capital is 20-60%, and share of other types of income is 10%, a) Calculate GDP, aggregate profits, and aggregate value of other types of income in Mexico. b) Assume aggricultural sectore makes up 30% of Mexico's GDP, industrial sector 50% and service sector 20% of the GDP. In all sector input costs are 30% of the revenues revenues. Calculate value added and input costs of each sector.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter19: The Macroeconomic Perspective

Section: Chapter Questions

Problem 31P: Ethiopia has a GDP of 8 billion (measured in U.S. dollars) and a population of 55 million. Costa...

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