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Solve it correctly please. I will rate accordingly with multiple votes. Ty-ped answer only. QUESTION 2 (10 points) Consider the hypothetical economy consisting of three
Solve it correctly please. I will rate accordingly with multiple votes. Ty-ped answer only.
QUESTION 2 (10 points) Consider the hypothetical economy consisting of three firms in the table below. In this economy, Pie Corporation buys intermediate goods from Apple Farms. Grocer Mart buys intermediate goods from Pie Corporation. Choose the true statement from the following choices. Apple Farm Pie Corporation Grocer Mart Cost of Intermediate goods 0 4,200 9.000 Wages 2.000 3,700 10,000 Interest payments 1.000 600 1.000 Rent 200 300 500 Profit 1,000 200 1,000 Value of Sales 4.200 9.000 21,500 a) Use the income approach to calculate GDP. Show your work. (5 points) b) Use production approach to calculate GDP. Show your work. (5 points)Step by Step Solution
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