2. Consider country Dreamland produces only one final goods, sand witch involving withvarious production process. The stages of production of sandwitch the fiscal year 2020 have beenconsidered the table belowStages of ProductionWheatFlourDoughBreadSandwitchMarket Value280320350420500Suppose, 80 billion taka of flour and 120 billion taka of bread have been used as finalconsumption in fiscal year 2020. Using these restrictions, estimate the Gross DomesticProduct (GDP) based on value addition method. Verify GDP by using expendituremethod, and compare these two estimations.

Answer: Let us first find the GDP using the value-added method: Note: Since the unit of market value…

2. Consider country Dreamland produces only one final goods, sand witch involving with various production process. The stages of production of sandwitch the fiscal year 2020 have been considered the table below Stages of Production Wheat Flour Dough Bread Market Value 280 320 350 420 Sandwitch 500 Suppose, 80 billion taka of flour and 120 billion taka of bread have been used as final consumption in fiscal year 2020. Using these restrictions, estimate the Gross Domestic Product (GDP) based on value addition method. Verify GDP by using expenditure method, and compare these two estimations.

2. Consider country Dreamland produces only one final goods, sand witch involving with various production process. The stages of production of sandwitch the fiscal year 2020 have been considered the table below Stages of Production Wheat Flour Dough Bread Market Value 280 320 350 420 Sandwitch 500 Suppose, 80 billion taka of flour and 120 billion taka of bread have been used as final consumption in fiscal year 2020. Using these restrictions, estimate the Gross Domestic Product (GDP) based on value addition method. Verify GDP by using expenditure method, and compare these two estimations.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 7SCQ: Suppose the cost of machines increases to 55, while the cost of labor stays at 40. How would that...

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