C www.macmillanhighered.com/launchpad/krugmanwellsmod chpad/item/module krugmanw

Question

C www.macmillanhighered.com/launchpad/krugmanwellsmod chpad/item/module krugmanwellsmodulesmacro3 section3/krugmanwellsr Done Graded Homework: Section 3. Macroeconomic Measurement 12. Tablet Measuring GDP Measuring GDP billloss of dollars) and local gowemment purchases of goods and services 200 Federal government purchases of goods and services orable: Measuring GDP) In the Table: Measuring GDP, government purchases of goods and services are: $100 billion. $200 billion. 13. Table: Furniture Produerion skbedule stage of production Sales value er aterial mable: Furniture Production schedule) What is the total value added at all stages of the production process of the furniture as described in Table: Furniture Production schedule? $800 $1200 s1800 6:58 Start: 6:01 PM MacBook Air

Explanation / Answer

12. Government purchases of goods and services = Purchase of goods and services by State, Local and Federal government = $ 200 billion + $ 100 billion = $ 300 billion

13. Value of final good for consumption = Total value added at every stage of production process

So, total value added at every stage of production = $ 1200

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