Question: The firms split their value added entirely between wages and profit (which is paid as dividends to shareholders). Complete the table. Then compute GDP by

The firms split their value added entirely between wages and profit (which is paid as dividends to shareholders). Complete the table. Then compute GDP by all three methods. Note there are no other firms in the economy nor a government, everything produced is sold. $2 worth of the sausages are exported and $5 of tractors are imported by the farmer. There are no other exports or imports.

Worker / good Intermediate Wages Profit Value added Sales goods Farmer /meat $0 $4 $14 Sausage factory / Sausage $12 $4 $20 Gourmet Restaurant /Meal $16 $10 $35

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