i need the answer quickly EconomicIn Nashville, a farmer takes $200 worth of inputs andproduces wheat, which he sells to the miller for $400. Themiller then sells flour to the baker for $700, and the bakerlater sells $1200 worth of bread. The gross domesticproduct for this economy would bea.$1000.b.$2500.c.$1200.d.$2300.

GDP is the total of the cost of production so now we can find the answer as follow-

Answered: Economic In Nashville, a farmer takes…

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter7: Production And Growth

Section: Chapter Questions

Problem 5CQQ

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What are typical GDP patterns for a high-income economy like the United States in the long run and the short run?
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One day, Chinedu the Barber, Inc., collects D400 for haircuts. Over this day, his equipment depreciates in value by D50. Of the remaining D350, Chinedu sends D30 to the government in sales taxes, takes home D220 in wages, and retains D100 in his business to add new equipment in the future. From the D220 that Chinedu takes home, he pays D70 in income taxes. Based on this information, compute Chinedu’s contribution to the following measures of income. gross domestic product net national product national income personal income disposable personal income
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One day, chinedu the barber , Inc, collects D400 for haircuts.over this day , his equipment depreciates in value by D50 , of the remaining D350 , chinedu sends D30 to the government in sales tax, takes home D220 in wages and retains D100 in his business to add new equipment in the future. from the D220 that chinedu takes home, he pays D70 in income takes . Based on this computer chinedu's contribution to the following measure of income. 1) gross domestic product 2) net national product 3) national income 4) personal income 5) disposable income

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Economic In Nashville, a farmer takes $200 worth of inputs and produces wheat, which he sells to the miller for $400. The miller then sells flour to the baker for $700, and the baker later sells $1200 worth of bread. The gross domestic product for this economy would be