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Basic Question 2 of 4
A miller buys a pound of wheat from a farmer for 30 cents, grinds it into flour and sells it to a baker for 60 cents. The baker combines the flour with other ingredients and makes a loaf of bread. The baker sells the bread to the grocery store for 90 cents. The grocery store then adds 10 cents and sells it to a customer. How much should be included in the GDP in this example?
User Contributed Comments 1
| User | Comment |
|---|---|
| Hermalia | GDP = .9 + .1 =$1 as the bread is the final product. |
I used your notes and passed ... highly recommended!
Lauren
Learning Outcome Statements
compare gross domestic product and gross national product;
CFA® 2024 Level I Curriculum, Volume 2, Module 14.