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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. 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?

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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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.
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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