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Business, 01.07.2021 16:50 jaumonking

The expenditure and 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. Daesun pays Awesome Foods Market $1,100 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 $950 to cater the party.
3. JoAnn's Catering buys plasticware worth $200 from Kostko.

Required:
Compute contributions to GDP, using the expenditure approach.

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