Question
Suppose a U.S. farmer imports $1,000 seeds from Mexico and produces $2,500 of wheat. A food producer buys the wheat, makes flour out of it
Suppose a U.S. farmer imports $1,000 seeds from Mexico and produces $2,500 of wheat. A food producer buys the wheat, makes flour out of it and sells it for $5,000 to households in his factory store. How much does U.S. GDP increase by?
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Intermediate Microeconomics
Authors: Hal R. Varian
9th edition
978-0393123975, 393123979, 393123960, 978-0393919677, 393919676, 978-0393123968
