A farmer produces wheat, which is valued at $0.75. The wheat is then sold to a miller, who turns it into flour, which is valued at $1.50. The miller then sells th to a bakery, which uses it to make bread, valued at $3.00. Finally, the bakery sells the bread to a grocery store, where it is sold to a consumer for $6.00. In the table below, show the value added at each stage of production, and the total value added to GDP. Firm Value Added Farmer Miller Baker Grocery Store Total Value Added to GDP

A farmer produces wheat, which is valued at $0.75. The wheat is then sold to a miller, who turns it into flour, which is valued at $1.50. The miller then sells th to a bakery, which uses it to make bread, valued at $3.00. Finally, the bakery sells the bread to a grocery store, where it is sold to a consumer for $6.00. In the table below, show the value added at each stage of production, and the total value added to GDP. Firm Value Added Farmer Miller Baker Grocery Store Total Value Added to GDP

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter6: Saving And Investing

Section: Chapter Questions

Problem 25AA

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