Scott is a woodworker and charges $125 an hour for his time manufacturing custom-made wood products.For his wife's birthday, he designs and creates an intricate birdseye maple jewellery box that takes him 15 hours to complete.How is GDP affected by Scott's efforts?
A) GDP rises by $1,875.
B) GDP is not affected by Scott's production of the jewellery box.
C) GDP rises by $125.
D) GDP falls by $1,875.
E) GDP rises by $1,875 less the cost of the materials Scott uses.
Correct Answer:
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