Jim's Nursery produces and sells $1,100 worth of flowers. Jim uses no intermediate inputs. He pays his workers $700 in wages, pays $100 in taxes and pays $200 in interest on a loan. Jim's
Contribution to GDP is
A) $1,000.
B) $2,000.
C) $900.
D) $1,100.
E) $1,800.
Correct Answer:
Verified
Q4: Real GDP values current production at
A)base year
Q5: Construction of chain-weighted real GDP employs the
Q6: Pamela's bakery produces 500 loaves of bread
Q7: Significant problems with measuring real GDP and
Q8: For the following question(s), suppose an
Q10: For the following question(s), suppose an
Q11: To calculate value added, we need to
Q12: Suppose that GDP is equal to 1,000,
Q13: National savings must equal
A)Y - NFP +
Q14: When there is rapid inflation
A)growth in nominal
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