Question: 5 . Problems and Applications Q9 A farmer grows wheat, which she sells to a miller for $90. The miller turns the wheat into flour,

5 . Problems and Applications Q9 A farmer grows wheat, which she sells to a miller for $90. The miller turns the wheat into flour, which she sells to a baker for $145. The baker turns the wheat into bread, which she sells to consumers for $155. Consumers eat the bread. Assume that these transactions account for all economic activityIr in this economy. GDP in this economy is . Value added is defined as the value of a producer's output minus the value of the intermediate goods that the producer buys to make the output. Assuming there are no Intermediate goods beyond those just described, complete the following table by calculating the lIrelue added for each of the three producers. Then enter the total value added in the nal row. Value Added Producer (Dollars) Farmer Miller Baker Total DEED True or False: The total value added for the three producers in this economy does not equal the economy's GDP. 0 True 0 False Grade It Now save & Continue

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16. Now put the areas you have ranked in order of priority and reflect on which values they correspond to in your value hierarchy.

14. Now reconcile what you answered to problem 15 with problem 13.

11. In what environment or contexts is it the value you want others to associate you with that the value can best be expressed in? Do you seek out these contexts to learn?