Calculate nominal GDP three ways for the hypothetical economy below. Transaction Value of Transaction Final Use Expenditure Income Created Value Added (Revenue – Cost) Mine to Smelter $4,000 Smelter to Battery Fabricator $6,000 Battery Fabricator to Tesla $9,000 Tesla to You $30,000 Total Why is the total value of transactions not of interest?
Calculate nominal GDP three ways for the hypothetical economy below. Transaction Value of Transaction Final Use Expenditure Income Created Value Added (Revenue – Cost) Mine to Smelter $4,000 Smelter to Battery Fabricator $6,000 Battery Fabricator to Tesla $9,000 Tesla to You $30,000 Total Why is the total value of transactions not of interest?
Macroeconomics: Principles and Policy (MindTap Course List)
13th Edition
ISBN:9781305280601
Author:William J. Baumol, Alan S. Blinder
Publisher:William J. Baumol, Alan S. Blinder
Chapter6: How Statisticians Measure Inflation
Section6.A: How Statisticians Measure Inflation
Problem 2TY
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- Calculate nominal GDP three ways for the hypothetical economy below.
Transaction |
Value of Transaction |
Final Use Expenditure |
Income Created |
Value Added (Revenue – Cost) |
Mine to Smelter |
$4,000 |
|||
Smelter to Battery Fabricator |
$6,000 |
|||
Battery Fabricator to Tesla |
$9,000 |
|||
Tesla to You |
$30,000 |
|||
Total |
Why is the total value of transactions not of interest?
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