Question 1 3 Incomplete answer Marked out of 9.00 \\7 Remove ag With the rise of globalization, supply chains now spread across the world. Consider the following simplified stages of production for a smartphone: a) The U.S.-based smartphone company develops the designs for the new smartphone. It programs and uploads the software. Any updates from previous versions of the software are available for existing phone owners as a free download. b) A rare minerals broker in China buys $15 billion worth of minerals from around the world, including $6 billion from U.S. mines (who pays $1 billion worth of intermediate goods). c)A microchip producer inJapan buys half of these minerals for $10 billion; a camera and screen producer in South Korea buys the other half for $10 billion. d) A manufacturing factory in China buys the microchip, cameras, and screens for $22 billion; it obtains the rest ofthe assembly materials domestically for $3 billion. e) The U.S.based smartphone company pays the factory $27 billion for the manufactured phones. f) The U.S.-based smartphone company keeps $10 billion worth of smartphones in inventory, then sells the rest to US. retailers for $16 billion and Chinese retailers for $10 billion. g) The U.S. retailers sell the phones in the United States, for a total of $21 billion in revenue. Q1. Given the information above, calculate the value-added of the production process that will count towards U.S. GDP. Firms Value-added to U.S. GDP (Numbers only. Enter 0 for no value-added.) U.S.-based smartphone $ 9 billion The rare minerals broker in China $ 5 billion U.S. mines $ billion The microchip producer in Japan $ billion The manufacturing factory in China $ billion Chinese retailers $ billion U.S. retailers $ billion