21. [10 points] Suppose that we have an economy made up of only two firms: The first firm is Firm 1 and it sells tires. This firm produces $5,000 of tires this year, selling $2,000 of tires to a second firm (Firm 2), $2,000 of tires to consumers for their use, and finally keeps $1,000 of tires in a warehouse to sell next year. This firm buys no intermediate goods, but does pay $500 in wages, $1,000 in rent, and pays $500 in taxes. The remainder of its $4,000 in revenues is paid out to the owners. Firm 2 produces cars, and it buys $2,000 of tires from Firm 1. It then uses these to produce cars, and sells $10,000 of cars to consumers. This firms pays out $2,000 in wages, $2,000 in building rents, $1,000 in taxes, and $1,000 for then rental of production capital. The rest of its revenues is paid out to the owners. Given the above, answer the following questions: a) Calculate GDP using the Value-Added Approach. How much does each firm contribute to GDP? [2 points]. b) Calculate GDP using the Expenditure Approach. How much does each of C, I, G, & NX contribute to GDP? [4 points]. c) Calculate GDP using the Income Approach. How much do Net Domestic Income and Non-Factor Payments each contribute to GDP? There are three sub-categories of Net Domestic Income, how much do each of these contribute to GDP? [4 points]