Consider the economy of Ecoland. It has no government, and initially has a GDP equal to $500. - Suppose Andy increases his autonomous consumption by $200 on Bernard's goods produced in Ecoland. - Bernard spends $60 of the extra income on goods produced by Chanel in Ecoland, $10 on goods produced abroad, and saves the rest.
- Chanel saves the income she receives from Bernar
GDP after these transactions is $____
- Do not enter the $ sign. - Round to two decimgl places if required. - Remember to add the initial GDP of $500