Joe builds himself a garage that is valued at $25,000.To build the garage,he purchased new materials for a total cost of $15,000.The value of GDP in this case would

Name: Joe builds himself a garage that is valued at $25,000.To build the garage,he purchased new materials for a total cost of $15,000.The value of GDP in this case would
Brand: Quizplus
Rating: 4.9 (59 reviews)

Question

Quizplus · Accepted Answer

The GDP increases by the value of the new materials purchased, which is $15,000, as it reflects the market value of goods and services produced.

Joe Builds Himself a Garage That Is Valued at $25,000