Suppose an economy’s entire output is cars. In Year 1, all manufacturers produce cars at $15,000 each; the real GDP is $300,000. In Year 2, 20 cars are produced at $16,000 each.?

Suppose an economy’s entire output is cars. In Year 1, all manufacturers produce cars at $15,000 each; the real GDP is $300,000. In Year 2, 20 cars are produced at $16,000 each.?
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What is the real GDP in Year 2? (Hint: Find out how many cars were made in year 1 by dividing the total values of all cars by their individual costs)
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If a country's debt-to-GDP is currently 25%and its debt is expected to grow from $16 trillion to $20 trillion in the next ten years, what will be the country's GDP have to be in 10 years to maintain the current debt-to-GDP ratio?

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