5) Economic activities in a three-sector hypothetical economy for 2020 are given below. Compute GDP using both the expenditure approach and the factor payment approach. There is no government and no depreciation. A. Agriculture: thousands of self-employed farmers. Manufacture: Sigma Auto, Inc. (a car producing company) Service: Super M (a chain of food market) B. Sigma Automobile produced 2,000 small cars, which it sold at $6,000 each, and 200 trucks, which it sold at $8,000 each. Consumers bought 1600 of the cars, and the remaining 400 cars were exported to abroad. Super Market bought all the trucks. C. Sales at Super M markets amounted to $28 million, all of it sold to consumers. D. Self-employed farmers sell all of their products to Super M. Sigma Auto $7,600,000| $9,000,000 Super M Farmers Wages $0 400,000 1,400,00 | 2,000,000 4,000,000| 14,000,000| Interest 200,000 Rent 400,000 Purchase of food
5) Economic activities in a three-sector hypothetical economy for 2020 are given below. Compute GDP using both the expenditure approach and the factor payment approach. There is no government and no depreciation. A. Agriculture: thousands of self-employed farmers. Manufacture: Sigma Auto, Inc. (a car producing company) Service: Super M (a chain of food market) B. Sigma Automobile produced 2,000 small cars, which it sold at $6,000 each, and 200 trucks, which it sold at $8,000 each. Consumers bought 1600 of the cars, and the remaining 400 cars were exported to abroad. Super Market bought all the trucks. C. Sales at Super M markets amounted to $28 million, all of it sold to consumers. D. Self-employed farmers sell all of their products to Super M. Sigma Auto $7,600,000| $9,000,000 Super M Farmers Wages $0 400,000 1,400,00 | 2,000,000 4,000,000| 14,000,000| Interest 200,000 Rent 400,000 Purchase of food
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter5: Measuring A Nation's Income
Section: Chapter Questions
Problem 5CQQ
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can you solve the option c and d please
![5) Economic activities in a three-sector hypothetical economy for 2020 are given below. Compute
GDP using both the expenditure approach and the factor payment approach. There is no
government and no depreciation.
A. Agriculture: thousands of self-employed farmers.
Manufacture: Sigma Auto, Inc. (a car producing company)
Service: Super M (a chain of food market)
B. Sigma Automobile produced 2,000 small cars, which it sold at $6,000 each, and 200 trucks,
which it sold at $8,000 each. Consumers bought 1600 of the cars, and the remaining 400
cars were exported to abroad. Super Market bought all the trucks.
C. Sales at Super M markets amounted to $28 million, all of it sold to consumers.
D. Self-employed farmers sell all of their products to Super M.
Sigma Auto
Super M
Farmers
Wages
$7,600,000
$9,000,000
$0
400,000 1,400,000
2,000,000 4,000,000
Interest
200,000
Rent
400,000
Purchase of food
14,000,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5bcab100-e0ab-49d6-a724-4e071a76debe%2Fa634b1cb-44e4-4ec8-bad2-01b989897231%2Fi7yv7c3_processed.png&w=3840&q=75)
Transcribed Image Text:5) Economic activities in a three-sector hypothetical economy for 2020 are given below. Compute
GDP using both the expenditure approach and the factor payment approach. There is no
government and no depreciation.
A. Agriculture: thousands of self-employed farmers.
Manufacture: Sigma Auto, Inc. (a car producing company)
Service: Super M (a chain of food market)
B. Sigma Automobile produced 2,000 small cars, which it sold at $6,000 each, and 200 trucks,
which it sold at $8,000 each. Consumers bought 1600 of the cars, and the remaining 400
cars were exported to abroad. Super Market bought all the trucks.
C. Sales at Super M markets amounted to $28 million, all of it sold to consumers.
D. Self-employed farmers sell all of their products to Super M.
Sigma Auto
Super M
Farmers
Wages
$7,600,000
$9,000,000
$0
400,000 1,400,000
2,000,000 4,000,000
Interest
200,000
Rent
400,000
Purchase of food
14,000,000
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