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.
E) $60,000.
Correct Answer:
Verified
Q8: The three approaches to measuring GDP are
Q9: The income approach to calculating GDP includes
A)
Q10: The product approach to calculating GDP values
Q11: The expenditure approach is calculated as
A) C
Q12: GDP is published by Statistics Canada as
Q14: Jim's Nursery produces and sells $1100 worth
Q15: Intermediate goods are
A) irrelevant in the overall
Q16: Pamela's bakery produces 500 loaves of bread
Q17: Approaches to measuring GDP include
A) cost approach.
B)
Q18: The value of a producer's output minus
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