Acme Steel Co. produces 1000 tons of steel. Steel sells for $30 per ton. Acme pays wages of $10,000. Acme buys $15,000 worth of coal,which is needed to produce the steel. Acme pays $2,000 in taxes. Acme's contribution to GDP is
A) $15,000.
B) $20,000.
C) $30,000.
D) $45,000.
Correct Answer:
Verified
Q9: Approaches to measuring GDP include all of
Q10: Suppose we have the following information about
Q11: Jim's Nursery produces and sells $1100 worth
Q12: The three approaches to measuring GDP are
Q13: Suppose we know the following about a
Q15: Gelato ice cream maker shows the following
Q16: NIPA means
A) New Income and Price Accounting.
B)
Q17: Pamela's bakery produces 500 loaves of bread
Q18: Suppose we have the following information about
Q19: Suppose we have the following information about
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents