Question

Explain the income method of calculating national income. Assume that a farmer sells
wheat to miller for Rs. 15. The miller turns wheat into flour, which she sells to a baker
for Rs. 35. The baker turns the flour into bread and sells to consumer for Rs. 60. Calculate
the GDP in this case? Which method do you use to calculate GDP in this case? What
precautions should be taken in that method?

Answer 1

Answer:

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Answer 2

Answer:

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