Prawesh the sheep farmer sells wool to Omar the knitter for $25. Cost of farming his sheeps to produce wool of $25 value is $5. Omar makes three sweaters, each of which has a market price of $50. Annisa and her friends buy all the sweaters. From this sales, Omar makes profit of $100. Calculate the GDP using three approaches (and explain the calculation) 1. What is the final value of the production? 2. What is the total income? 3. What is the total expenditure?

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