¢15,000-Taxes paid to government ¢5,000-Revenue received from sale of apples ¢35,000-Apples sold to the public ¢10,000-Apples sold to Kojo Juice Incorporation ¢25,000-Transactions of Kojo Juice Incorporation ¢10,000-Wages paid to workers of Kojo Juice Incorporation ¢2,000-Taxes paid to government ¢25,000-Apples bought from Holi Apple Incorporation ¢40,000-Revenue received from sale of apple juice Using the data above, show that the product approach, income approach and expenditure approach yield the same value of total economic activity (GDP)
¢15,000-Taxes paid to government ¢5,000-Revenue received from sale of apples ¢35,000-Apples sold to the public ¢10,000-Apples sold to Kojo Juice Incorporation ¢25,000-Transactions of Kojo Juice Incorporation ¢10,000-Wages paid to workers of Kojo Juice Incorporation ¢2,000-Taxes paid to government ¢25,000-Apples bought from Holi Apple Incorporation ¢40,000-Revenue received from sale of apple juice Using the data above, show that the product approach, income approach and expenditure approach yield the same value of total economic activity (GDP)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
¢15,000-Taxes paid to government
¢5,000-Revenue received from sale of apples
¢35,000-Apples sold to the public
¢10,000-Apples sold to Kojo Juice Incorporation
¢25,000-Transactions of Kojo Juice Incorporation
¢10,000-Wages paid to workers of Kojo Juice Incorporation
¢2,000-Taxes paid to government
¢25,000-Apples bought from Holi Apple Incorporation
¢40,000-Revenue received from sale of apple juice
Using the data
above, show that the product approach, income approach and expenditure approach
yield the same value of total economic activity (GDP).
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