The following table contains data for Chereaux for the year 2019.
GDP $200
Income earned by citizens abroad $9
Income foreigners earn here $5
Losses from depreciation $6
Indirect business taxes $10
Statistical discrepancy $0
Retained earnings $8
Corporate income taxes $12
Social insurance contributions $30
Interest paid to households by government $8
Transfer payments to households from government $55
Personal taxes $60
Nontax payments to government $11
Refer to Table 23-1. The market value of all final goods and services produced within Chereaux in 2019 is
a. $230.
b. $214.
c. $204.
d. $200.
1 answer
To determine the market value of all final goods and services produced within Chereaux in 2019, we need to look at the GDP figure provided in Table 23-1.
The GDP listed is $200. GDP measures the total value of all final goods and services produced within a country during a specific period, and it accounts for production within the borders of the country, regardless of who produces it (citizens or foreigners).
Given this, the answer is:
d. $200.
