CALCULATING THE VALUE ADDED AND GDP RAW MATERIALS COST OF RAW MATERIALS (in cents) $ VALUE...
-
CALCULATING THE VALUE ADDED AND GDP
|
RAW MATERIALS |
COST OF RAW MATERIALS (in cents) |
$ VALUE ADDED |
|
|
`1 |
Farmer produce wheat and sold it to the mill |
.08 |
? |
|
2 |
Wheat ground into flour |
.16 |
? |
|
3 |
Flour is packed |
.20 |
? |
|
4 |
Flour sold to the bakery |
.40 |
? |
|
5 |
After bread is baked |
.80 |
? |
|
6 |
When bread is packed |
.92 |
? |
|
7 |
Bread delivered to the Supermarket |
1.40 |
? |
|
8 |
Supermarket sold bread to consumers |
$2.76 |
? |
-
What is the total value added for this production process?
__________________________________________(8points)
-
What is the value of the GDP______________________(4points)
Homework Answers
|
RAW MATERIALS |
COST OF RAW MATERIALS |
PRICE OF OUTPUT |
$ VALUE ADDED |
|
|
`1 |
Farmer produce wheat and sold it to the mill |
.08 |
.16 |
.08 |
|
2 |
Wheat ground into flour |
.16 |
.20 |
.04 |
|
3 |
Flour is packed |
.20 | .40 |
.20 |
|
4 |
Flour sold to the bakery |
.40 |
.80 |
.40 |
|
5 |
After bread is baked |
.80 |
.92 |
.12 |
|
6 |
When bread is packed |
.92 |
1.40 |
.48 |
|
7 |
Bread delivered to the Supermarket |
1.40 |
$2.76 |
1.36 |
|
8 |
Supermarket sold bread to consumers |
$2.76 |
$2.76 |
0 |
| TOTAL VALUE ADDED | 2.68 |
a) Total value added for this production process = $2.68
b) Total value added is, in fact, equal to the market value of the final good produced, namely the $2.68.
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CALCULATING THE VALUE ADDED AND GDP
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