Business, 30.03.2020 18:42, gamboaserg

Initially, he is stuck on an island without the wisdom and local knowledge of Friday. Because Crusoe is a proper Englishman, he wants to keep his accounts. This year, he catches and eats 2,000 fish valued at one British pound (£) each, grows and eats 4,000 coconuts valued at 0.5 British pounds each, and makes two huts (housing) valued at 200 pounds each.

Now, using the following:
a. If government purchases are zero and there is no trade, what is C for Crusoe? What is I? What is Y? (We are going to start using those letters as if they mean something).

b. Next year, RC learns of a tribe on a nearby island who are willing to trade with him: If he gives fish, they give clams. He produces just as much fish as before, but he trades 500 of the 2,000 fish and receives 10,000 clams valued at 5 clams per British pound.

What is the NEW British pound values of: the exported fish? the imported clams? What are C, and I? What is GDP (Y) now?

c. The following year, Crusoe produces the same as in every other year, but a tribe on the other side of the island steals his newly produced two huts, and gives him nothing in return. What are C, I, X, and Y now?

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Initially, he is stuck on an island without the wisdom and local knowledge of Friday. Because Crusoe...