In the economy of Pizzania (from Problem 4), bread and cheese produced are sold both to the
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In the economy of Pizzania (from Problem 4), bread and cheese produced are sold both to the pizza company for inputs in the production of pizzas and to consumers as final goods. The accompanying table summarizes the activities of the three companies.
a. Calculate GDP as the value added in production.
b, Calculate GDP as spending on final goods and services.
c. Calculate GDP as factor income.
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