Business, 06.02.2020 02:45 SunsetPrincess

The expenditure and resource cost-income approaches to calculating gdp arrive at the same final number, but they calculate that number in different ways. to illustrate, consider the possible effects of the following transactions on gdp:
1. yakov pays awesome foods market $1,000 to cater his daughter's engagement party. he's attracted by awesome foods market's guarantee that he'll be happy with the catering, or he'll get his money back.
2. awesome foods market pays joann's catering $900 to cater the party.
3. joann's catering buys plasticware worth $150 from kostko.

compute contributions to gdp, using the expenditure approach. assume that kostko receives the plasticware at no charge and that other costs are zero. hint: add the amount of money spent by buyers of final goods and services.

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