5.) In the economy of pizzania bread and cheese produced are sold both to the pizza company for inputs in the production of pizzas and to consumers as final goods. The accompanying table summarizes the activities of the three companies. a. Calculate GDP as the value-added in production. b. Calculate GDP as spending on final goods and services. c.Calculate GDP as factor income.
5.) In the economy of pizzania bread and cheese produced are sold both to the pizza company for inputs in the production of pizzas and to consumers as final goods. The accompanying table summarizes the activities of the three companies. a. Calculate GDP as the value-added in production. b. Calculate GDP as spending on final goods and services. c.Calculate GDP as factor income.
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter15: Measuring A Nation's Income
Section: Chapter Questions
Problem 4CQQ
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5.) In the economy of pizzania bread and cheese produced are sold both to the pizza company for inputs in the production of pizzas and to consumers as final goods. The accompanying table summarizes the activities of the three companies.
a. Calculate
b. Calculate GDP as spending on final goods and services.
c.Calculate GDP as factor income.
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