Table 19-9 -Refer to Table 19-9

Table 19-9
$$\begin{array} { | l | c | c | } \hline \text { Product } & \text { Quantity } & \begin{array} { c } \text { Price per } \\\text { Unit }\end{array} \\\hline \text { Steel } & 1,000 & \$ 100 \\\hline \text { iPods } & 5,000 & 200 \\\hline \text { Autos } & 500 & 25,000 \\\hline \text { Legal services } & 100 & 2,000 \\\hline\end{array}$$
-Refer to Table 19-9.Suppose that the above table represents the goods and services produced in a very simple economy in 2016.Assume that steel is used as an input in the production of autos.Using that information,calculate GDP for the year 2016.

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First,we must decide which goods to incl...

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