Tyler and Camille both live in Oklahoma.A new-car dealer in Oklahoma bought a new car from the manufacturer for $18,000 and sold it to Tyler for $22,000.Later that year,Tyler sold the car to Camille for $17,000.By how much did these transactions contribute to U.S.GDP for the year?

Question

Quizplus · Accepted Answer

The contribution to GDP is the sale of the new car to Tyler for $22,000, as GDP includes the market value of all final goods and services produced within a country in a given period. The resale to Camille does not contribute to GDP as it is not a new production.

Tyler and Camille Both Live in Oklahoma