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AA A ng.cengage.com sUnion Inbox - la... PortalGuar... Purchase... Mind Tap -... How to Ad... Indeed As... x MindTa... Aplia: Eco... Aplia: Eco... Cengage S... CENGAGE . MINDTAP R Search this cou Aplia Homework: Tracking the U.S. Economy 1. Felix pays Awesome Foods Market $1,100 to cater his daughter's engagement party. He's attracted by Awesome Foods Market's guarantee that he'll be happy with the catering, or he'll get his money back. 2. Awesome Foods Market pays JoAnn's Catering $950 to cater the party. 3. JoAnn's Catering buys plasticware worth $200 from Kostko. Compute contributions to GDP, using the expenditure approach. Assume that Kostko receives the plasticware at no charge and that other costs are zero. Hint: Add the amount of money spent by buyers of final goods and services. Which of the following would be included in the expenditure method of calculating GDP? Check all that apply. Awesome Foods Market spends $950. Felix spends $1,100. JoAnn's Catering spends $200. The total contribution to GDP, measured by the expenditure method, is Now use the following table to compute contributions to GDP, employing the income approach. In particular, indicate the costs of intermediate goods and the value added at each stage of production. Stage of Production Sale Value Cost of Intermediate Goods Value Added Kostko $200 JoAnn's Catering $950 Awesome Foods Market $1, 100 The contribution to GDP that you found using the expenditure approach corresponds to the sum of the at each stage of production. F2 F3 FS 16 F6 F7 F8 F9 F10 10) F12 *