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A forestry firm fells trees on provincially-owned land. The trees, once felled, are sold to a sawmill that transforms the trunks into planks and posts. The planks and posts are sold to a DIY (DIY = Do It Yourself) store which then sells them to consumers. Using the information in the table below, compute the GDP of this (provincial) economy using a. Draw a flow diagram of this economy b. The income approach c. The expenditure approach d. The value added approach Forestry firmSawmillDIY store Value of output ($)100030008000 Value of intermediate goods ($)--10003000 Wages ($)2006003000 Interest paid($)50100400 Rent ($)15075700
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A forestry firm fells trees on provincially-owned land. The trees, once felled, are sold to a sawmil...
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