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In the year 2016: • The Fisherman caught fish worth $30, of which $10 was sold to the Restaurant and $20 was sold to consumers • The Brewery brewed beer worth $30 and sold everything to the Restaurant • The Restaurant served meals to consumers worth $130. Fill in the table below and then compute GDP using two methods: 1) summing up all final goods production and 2) the Value Added method. Firm Total Output Intermediate Value added goods used by the firm Fisherman Brewery Restaurant $30 $30 $130

In the year 2016: • The Fisherman caught fish worth $30, of which $10 was sold to the Restaurant and $20 was sold to consumers • The Brewery brewed beer worth $30 and sold everything to the Restaurant • The Restaurant served meals to consumers worth $130. Fill in the table below and then compute GDP using two methods: 1) summing up all final goods production and 2) the Value Added method. Firm Total Output Intermediate Value added goods used by the firm Fisherman Brewery Restaurant $30 $30 $130

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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There is an economy with three firms: fisherman, beer brewery, and resturant.

In the year 2016: • The Fisherman caught fish worth $30, of which $10 was sold to the Restaurant and $20 was sold to consumers • The Brewery brewed beer worth $30 and sold everything to the Restaurant • The Restaurant served meals to consumers worth $130. Fill in the table below and then compute GDP using two methods: 1) summing up all final goods production and 2) the Value Added method. Firm Total Output Intermediate Value added goods used by the firm Fisherman Brewery Restaurant $30 $30 $130
Transcribed Image Text:In the year 2016: • The Fisherman caught fish worth $30, of which $10 was sold to the Restaurant and $20 was sold to consumers • The Brewery brewed beer worth $30 and sold everything to the Restaurant • The Restaurant served meals to consumers worth $130. Fill in the table below and then compute GDP using two methods: 1) summing up all final goods production and 2) the Value Added method. Firm Total Output Intermediate Value added goods used by the firm Fisherman Brewery Restaurant $30 $30 $130
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