A cocoa farmer in Country X exports $500 worth of his cocoa beans to a chocolate manufacturer in Country Y. The chocolate manufacturer keeps $300 worth of the cocoa beans in inventory for future production use. The chocolate manufacturer then refines the remaining beans and sells the refined cocoa beans to a chocolate company for $700. The chocolate company makes the beans into chocolate and sells that to households for $1000. If the economy in country Y only consumes chocolate, calculate the GDP of country Y using the expenditure approach.
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A cocoa farmer in Country X exports $500 worth of his cocoa beans to a chocolate manufacturer in Cou...
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