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In this economy, there are only two producers {Wheat Farm, Bread Factory} and consumers. Wheat Farm produces wheat used in Bread Factory's bread. Suppose that
In this economy, there are only two producers {Wheat Farm, Bread Factory} and consumers. Wheat Farm produces wheat used in Bread Factory's bread. Suppose that in 199B Wheat farm produced 1.5 million wheat and sold each wheat for $50 each. The wage to farm the wheat is 550 million. The Bread Factory produces 2 million pieces of bread and sells each for 55!] each. Bread Factory pays 5TB million in wages to the people making the bread. To produce the bread, Bread Factory buys 1.5 million from Wheat Farm, and buys 500 thousand from a Chinese Producer. The Chinese producer also sells the wheat for $1EICI each. Domestic consumers buy 1.5 million bread from the Bread Factory, and BBB thousand is exported to other countries. All prots from Wheat Farm and Bread Factory were paid back to consumers. Calculate GDP using the expenditure method, yalue-added method, and income method. SHOW 'I'DUR WORK
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