The following is an economy where there are only three goods produced. Wheat, dough, and Subway sandwiches. We've simplified it to three things so it's easier to calculate GDP. In reality, there are obviously more than three things produced in an economy. Wheat Subway Sandwich $22,000 $84,667 $400 $300 Dough Value of Sale Int Good Wages Other costs Profit Value Added $32,000 $4,613 $5387 $6,000 $4,000 8. How many goods here are final goods?
The following is an economy where there are only three goods produced. Wheat, dough, and Subway sandwiches. We've simplified it to three things so it's easier to calculate GDP. In reality, there are obviously more than three things produced in an economy. Wheat Subway Sandwich $22,000 $84,667 $400 $300 Dough Value of Sale Int Good Wages Other costs Profit Value Added $32,000 $4,613 $5387 $6,000 $4,000 8. How many goods here are final goods?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![The following is an economy where there are only three goods produced. Wheat, dough, and
Subway sandwiches. We've simplified it to three things so it's easier to calculate GDP. In reality,
there are obviously more than three things produced in an economy.
Subway Sandwich
$22,000
$84,667
Wheat
Dough
Value of Sale
Int Good
$32,000
$4,613
$400
$300
Wages
Other costs
Profit
Value Added
$6,000
$4,000
$5387
8. How many goods here are final goods?
9. Fill in the missing parts of the table with the given information.
10. Find GDP using the three methods outlined in class.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa27e55af-6dbc-4115-b58e-172510316635%2Fb3d659d5-f085-481d-a7c8-2731f0986fe4%2Faswjgtd_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The following is an economy where there are only three goods produced. Wheat, dough, and
Subway sandwiches. We've simplified it to three things so it's easier to calculate GDP. In reality,
there are obviously more than three things produced in an economy.
Subway Sandwich
$22,000
$84,667
Wheat
Dough
Value of Sale
Int Good
$32,000
$4,613
$400
$300
Wages
Other costs
Profit
Value Added
$6,000
$4,000
$5387
8. How many goods here are final goods?
9. Fill in the missing parts of the table with the given information.
10. Find GDP using the three methods outlined in class.
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