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magine a two-industry economy. Industry A employs 10 workers each paid $50 pr year to produce an intermediate good worth $1100 per year and uses
magine a two-industry economy. Industry A employs 10 workers each paid $50 pr year to produce an intermediate good worth $1100 per year and uses $100 of its own output as an input (think of seed corn). Industry B produces $4000 per year of a consumption good, using $1000 in materials purchased from Industry A and 20 workers, each paid $50 per year. Calculate the GDP by (i) measuring the value of final output (ii) measuring the total value-added
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