Calculate nominal GDP three ways for the hypothetical economy below. Transaction Value of Transaction Final Use Expenditure Income Created Value Added (Revenue – Cost) Mine to Smelter $4,000 Smelter to Battery Fabricator $6,000 Battery Fabricator to Tesla $9,000 Tesla to You $30,000 Total Why is the total value of transactions not of interest?
Calculate nominal GDP three ways for the hypothetical economy below. Transaction Value of Transaction Final Use Expenditure Income Created Value Added (Revenue – Cost) Mine to Smelter $4,000 Smelter to Battery Fabricator $6,000 Battery Fabricator to Tesla $9,000 Tesla to You $30,000 Total Why is the total value of transactions not of interest?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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100%
- Calculate nominal
GDP three ways for the hypothetical economy below.
Transaction |
Value of Transaction |
Final Use Expenditure |
Income Created |
Value Added (Revenue – Cost) |
Mine to Smelter |
$4,000 |
|||
Smelter to Battery Fabricator |
$6,000 |
|||
Battery Fabricator to Tesla |
$9,000 |
|||
Tesla to You |
$30,000 |
|||
Total |
Why is the total value of transactions not of interest?
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