Suppose a Farmer produces wheat and sells it for $2,000 to flour Mill. Flour Mill converts it flour and sells it for $2,500 to Bakery. Bakery produces daily bread and sells to restaurant for $3500. Restaurant sells to consumers for $4,000. Calculate total GDP?

Suppose a Farmer produces wheat and sells it for $2,000 to flour Mill. Flour Mill converts it flour and sells it for $2,500 to Bakery. Bakery produces daily bread and sells to restaurant for $3500. Restaurant sells to consumers for $4,000. Calculate total GDP?

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 2CQQ

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Question

Suppose a Farmer produces wheat and sells it for $2,000 to flour Mill. Flour Mill converts it flour and sells
it for $2,500 to Bakery. Bakery produces daily bread and sells to restaurant for $3500. Restaurant sells to
consumers for $4,000. Calculate total GDP?

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