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Sublight2097 Sublight2097
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8 years ago
Consider the following simplified sequence of exchanges. A farmer sells wheat to a miller, for 25 cents. The miller grinds the wheat into flour, and sells that to a baker, for 35 cents. The baker turns the flour into a loaf of bread, which she sells to a grocer for 60 cents. The grocer then sells you the loaf of bread for 85 cents. What can we conclude?
A) Your purchase of the bread avoided the use of a middleman.
B) The grocer's profit means you lost on the deal.
C) GDP increases by 25 cents.
D) GDP increases by 85 cents.
E) GDP increases by $2.05.
Textbook 
The Economic Way of Thinking

The Economic Way of Thinking


Edition: 13th
Authors:
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SydnieSydnie
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Sublight2097 Author
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#2
8 years ago
Seriously, you've been tremendously helpful! Thank you.
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