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. Bread Cheese Pizza company company company $50 (bread) Cost of inputs $0 $0 35 (cheese) Wages 25 30 75 Value of output 100 60 200 a. Calculate GDP as the value added in production. 400 $ Incorrect b. Calculate GDP as spending on final goods and services.

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