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leted 11 out of 23 Submit All on 3 of 23 Sizing Up the Economy Using GDP - End of Chapter Problem Dan spent $200
leted 11 out of 23 Submit All on 3 of 23 Sizing Up the Economy Using GDP - End of Chapter Problem Dan spent $200 on a new computer monitor that he purchased from a local store. The local store had bought it from an area Macmillan Leaming wholesaler for $150. The area wholesaler had bought it from the manufacturer for $85. The manufacturer bought raw materials that cost $10 to produce the monitor. For the raw-materials provider, the $10 was pure profit. This monitor also had cost the manufacturer $65 in wages. the area wholesaler $20 in wages, and the local store $15 in wages. Calculate how much GDP changed as a result of this purchase using each of the three ways to measure GDP a. First, calculate the change in GDP by adding up every dollar spent on final goods. b. Next, calculate the change in GDP by adding up every dollar's worth of output produced by detailing the value added at every stage of production. c. Finally, calculate the change in GDP by adding up every dollar of income earned. LA
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