Question: Part 3: Put It All Together- The table below lists the costs and prices for four businesses involved in making, distributing, and selling bread. Use

Part 3: Put It All Together- The table below lists the

Part 3: Put It All Together- The table below lists the costs and prices for four businesses involved in making, distributing, and selling bread. Use the information to answer the questions below. Cost of Inputs Price of Output Farmer Fred $0 $0.50 Baker Bob $0.50 $1.50 Trucker Tom $1.50 $2.25 Retail Rob $2.25 $3.50 16. Calculate the GDP using the value-added approach. Explain how you got your answer. 17. How much is the GDP using the expenditure approach? How is this process for calculating GDP different from the value-added approach

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