Assume that Country A has a population of 500,000 and only produces 1good: cars. Country A produces 100,000 cars per year. The people inCountry A purchase 90,000 cars, but there are not enough cars to fulfillall the demand. They decide to import 50,000 more. The government buys25,000 cars for its police force, and 10,000 cars are bought bycompanies to transport employees to other locations to work. They alsoexport 65,000 cars to nearby countries for sale. Discuss the following:What is Country A’s GDP?What is the composition of GDP by percentage?What is the GDP per capita?How does this relate to Keynesian economics?
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