! PubThe population of country X is 1,000 people. Here are the expenditures for country X for oneyear.Consumption Expenditures$500,000Investment ExpendituresGovernment Expenditures$400,000$150,000Imports$50,00024. What is the GDP of country X?25. What is the per capita GDP of Country X?26. The city of Detroit has high unemployment. The automobile industry in Detroit has sufferedfrom global competition and has moved much of the remaining production out of Detroit.The population of the city has fallen from a high of 1,850,000 in 1950 to 701,000 in 2013. Someof the highest crime rates in the United States are now those of Detroit, and huge areas of the cityare in a state of severe urban decay. The police force and fire service do not have enough moneyto pay for staff and equipment such as fully operational vehicles. In 2013, Detroit filedthe largest municipal bankruptcy case in U.S. history.How does unemployment affect the income of city? Describe how unemployment might lead tocity bankruptcy.terviewVided

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24. What is the GDP of country X? 25. What is the per capita GDP of Country X?

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Author:BOYES, William

Publisher:BOYES, William

Chapter4: The Aggregate Economy

Section: Chapter Questions

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Question

! Pub
The population of country X is 1,000 people. Here are the expenditures for country X for one
year.
Consumption Expenditures
$500,000
Investment Expenditures
Government Expenditures
$400,000
$150,000
Imports
$50,000
24. What is the GDP of country X?
25. What is the per capita GDP of Country X?
26. The city of Detroit has high unemployment. The automobile industry in Detroit has suffered
from global competition and has moved much of the remaining production out of Detroit.
The population of the city has fallen from a high of 1,850,000 in 1950 to 701,000 in 2013. Some
of the highest crime rates in the United States are now those of Detroit, and huge areas of the city
are in a state of severe urban decay. The police force and fire service do not have enough money
to pay for staff and equipment such as fully operational vehicles. In 2013, Detroit filed
the largest municipal bankruptcy case in U.S. history.
How does unemployment affect the income of city? Describe how unemployment might lead to
city bankruptcy.
terview
Vided

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