For the year 2020, all economic activities in the country of Simplicity are at follows: A farmer grows wheat, which she sells to a miller for $100. The miller turns the wheat into flour, which she sells to a baker for $150. The baker turns the wheat into bread, part of which she sells to consumers for $180, part of which she puts into inventory, which is worth $120. Using the value added approach, the GDP in the country of Simplicity for the year 2020? Using the expenditure approach, the value of investment in the country of Simplicity for the year 2020? Using the income approach, the total value of capital and labor income in the country of Simplicity for the year 2020?
For the year 2020, all economic activities in the country of Simplicity are at follows: A farmer grows wheat, which she sells to a miller for $100. The miller turns the wheat into flour, which she sells to a baker for $150. The baker turns the wheat into bread, part of which she sells to consumers for $180, part of which she puts into inventory, which is worth $120. Using the value added approach, the GDP in the country of Simplicity for the year 2020? Using the expenditure approach, the value of investment in the country of Simplicity for the year 2020? Using the income approach, the total value of capital and labor income in the country of Simplicity for the year 2020?
Chapter5: An Introduction To Macroeconomics
Section: Chapter Questions
Problem 3TY
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For the year 2020, all economic activities in the country of Simplicity are at follows: A farmer grows wheat, which she sells to a miller for $100. The miller turns the wheat into flour, which she sells to a baker for $150. The baker turns the wheat into bread, part of which she sells to consumers for $180, part of which she puts into inventory, which is worth $120.
Using the value added approach, the
Using the expenditure approach, the value of investment in the country of Simplicity for the year 2020?
Using the income approach, the total value of capital and labor income in the country of Simplicity for the year 2020?
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