Assume that a grower of flower bulbs sells its annual output of bulbs to an Internet retailer for $70,000. The retailer, in turn, brings in $140,000 from selling the bulbs directly to final customers. What amount would these two transactions add to personal consumption expenditures and thus to GDP during the year?   Instructions: Enter your answer as a whole number.

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A: 5 - :How to measure GDP in a closed economy? The answer is - A) C+I+G

Q: Suppose that annual output in year 1 in a 3-good economy is 3 quarts of ice cream, 1 bottle of…

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A: We have to derive total GDP by using given information .

Q: Suppose that annual output in year 1 in a 3-good economy is 3 quarts of ice cream, 1 bottle of…

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A: Given the 1st year price of good x = $1 The 1st year price of good y = $0.60

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Q: 1. Suppose that a farmer grows wheat, which she sells to a miller for $10. The miller turns the…

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Q: .How is GDP computed by using production method? By Expenditure method? By Income method?

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Q: 25. Which statement is true? a. The income method for calculating GDP gives a higher result for GDP…

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Q: Calculate GDP using the Expenditure Approach. (all figures are in billions of dollars):

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Q: 1. Which of the following are included in this year’s GDP? Explain your answer in each. A 2-hour…

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A: * ANSWER ,:-

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