tune puichase price of all Tihal goods and services produced by a couny\'s cithz

Question

tune puichase price of all Tihal goods and services produced by a couny's cithzehs . Which of the following transactions would be counted toward this year's GDP? General Motors purchases 10,000,000 tires from Firestone. a. b. A three-hundred-year-old painting is sold for $12 million. c. A street gang earns $2 million from selling illegal drugs. d. Your real estate agent earns $5,000 commission when you sell your hundred-ye $100,000. If a used-car dealer purchases a used car for $1,000, restores it, and resells it for $1, contributes a. value added equal to $500, but nothing is added to GDP b. value added equal to $500, and consequently $500 is added to GDP c. nothing to production because only existing goods are involved. d. value added equal to $1,500, but only $500 is added to GDP Assume that between 1990 and 2000 the money GDP of an economy increased f trillion and that the appropriate index of prices increased from 100 to 200. Whicl expresses GDP for 1990 in terms of 2000 prices? . $1 trillion . $3 trillion $4 trillion $6 trillion able 1 e the following data to answer the following questions. 200 million 120 million 30 million pulation mber employed mber unemployed r to Table 1. What is the unemployment rate of the economy? 15 percent 20 percent 60 percent 75 percent

Explanation / Answer

2) The answer is A -) General Motors purchases 10,000,000 from firestone.

because GDP only includes the final value of goods and services and thus here Tires is final good which is counted in GDP .

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.