Consider An Economy With Three Firms: ¢ Firm 1 Sells $75 Of Steel To Firm 3.

Consider an economy with three firms: ¢ Firm 1 sells $75 of steel to Firm 3
From its earnings, it pays $25 in wages and keeps $50 in profits
 €¢ Firm 2 sells $30 of rubber to Firm 3
Firm 2 pays $10 in wages and keeps $20 in profits
 ¢ Firm 3 sells $240 of cars to households
It pays for its inputs (from Firm 1 and Firm 2); keeps one third of its remaining earnings as profits,and pays two thirds in wages
Lets calculate GDP various ways
  (a) What is the final value of goods and services?