There are three firms in an economy: a, b, and c. firm a buys $250 worth of goods from firm b and $200 worth of goods from firm c, and produces 200 units of output, which it sells at $5 per unit. firm b buys $100 worth of goods from firm a and $150 worth of goods from firm c, and produces 300 units of output, which it sells at $7 per unit. firm c buys $50 worth of goods from firm a and nothing from firm b. it produces output worth $1,000. all other products are sold to consumers. instructions: enter your responses as whole numbers. a. calculate gdp. $ 3350 3350 correct b. if a value-added tax (a tax on the total value added by each firm) of 10 percent is introduced, how much revenue will the government get? $ not attempted c. how much would government get if it introduced a 10 percent income tax? $ not attempted d. how much would government get if it introduced a 10 percent sales tax on final output?
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There are three firms in an economy: a, b, and c. firm a buys $250 worth of goods from firm b and $...
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