Macroeconomics, Student Value Edition Plus MyLab Economics with Pearson eText -- Access Card Package (7th Edition)
7th Edition
ISBN: 9780134472669
Author: Blanchard
Publisher: PEARSON
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Question
Chapter 2, Problem 3QAP
a.
To determine
the
- to mine 75 pounds of silver$200000 is paid by the silver mining company which is then sold later to the jewelry manufacturer for the price of $300000.
- in order to make silver necklaces $250000 is paid by the jewelry manufacturer to the workers which is then sold to the consumers directly at a worth price of $1000000.
b.
To determine
the value added at each stage of the production using the value-added approach and the GDP of the economy when:
- $200000 is paid to mine 75 pounds of silver by the silver mining company which is then sold later to the jewelry manufacturer for the price of $300000.
- $250000 is paid by the jewelry manufacturer to the workers in order to make silver necklaces which is then sold to the consumers directly at a worth price of $1000000.
c.
To determine
The total wages and profit earned using the income approach and the amount of the GDP.
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Chapter 2 Solutions
Macroeconomics, Student Value Edition Plus MyLab Economics with Pearson eText -- Access Card Package (7th Edition)
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