A Texas oil company extracts petroleum and sells it to a refinery for $10,000. After processing, the refinery sells the gasoline to a wholesaler for $13,000, who then sells it to a gas station for $15,000. The gas station sells it to customers for $22,000. In these transactions, how much has been added to GDP?   a. $15,000   b. $60,000   c. $13,000   d. $22,000   e. $10,000

Q: Question 15 Texas Sardines produced $14 million worth of cans of sardines. In producing these cans…

A: GDP refers to Gross Domestic Product which includes the following components: consumption,…

Q: A farmer produces milk, which he sells to a mill for 1000 tk. The mill turns the milk into cream,…

A: GDP(Gross Domestic Product) is the total money value of all the goods and services produced in a…

Q: Many financial analysts use GDP as a measure of the economy's performance. However, GDP has several…

A: This concept can be defined as a tool that helps in measuring the total amount of production of…

Q: Which items count as part of this year's GDP? Group of answer choices a. final goods [ Choose ] no…

A: Hello. Since your question has multiple sub-parts, we will solve first three sub-parts for you. If…

Q: Which of the following will be counted as part of the U.S.'s GDP for a given year? Select one: O a.…

A: GDP is the sum total of market value of final goods and services produced in the economy in a period…

Q: Which of the following WOULD be counted in GDP? Baking a cake for a family gathering Buying some…

A: GDP stands for Gross Domestic Product of the economy. It is the final value of goods and service…

Q: 1. Farmer Brown produces $100 worth of milk. He sells $40 worth of the milk in the market and uses…

A: GDP is also known as gross domestic product. It is the sum total of all the final goods and…

Q: Which of the following transcation is excluded from GDP? a. Intel buys a new jb to ferry t workers…

A: The market value or the total money of all the finished goods and services produced within the…

Q: Which of the following is not included in the computation of the consumption component of gross…

A: The consumption function does include spending on durable and nondurable goods, and services in the…

Q: 1) Which of the four components of GDP – C, I, G, NX -- will be affected by each of the following…

A: a)Because ticket is purchased,consumption has taken place. Therefore (C) would be affected. b)Here…

Q: Which of the following is included in investment, according to GDP calculation?     Answers: A.…

A: GDP calculation only includes the goods and services produced within the domestic boundaries.  In…

Q: Define GDP. Explain the components of Gross Domestic Product (GDP).

A: The economic status of a country can be estimated by the gross domestic product of the country. The…

Q: Now, from our class discussions I created an example that you inherited the company, --let’s called…

A: Gross Domestic product (GDP) is the sum total of goods and services produced and traded with in the…

Q: which of the following transactions is exclued from GDP? a. the brazilian air force buys jets from…

A: Just recently delivered products - including those that expansion inventories - are included in GDP.…

Q: Using the table below, calculate GDP for a particular year. Wages and salaries $4,000 Government…

A: Here, information about the components of income and expenditure method of income are given using…

Q: If a friend comes over to help you build a wooden fence, the value of the service produced counted…

A: Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and…

Q: The table shows different components of GDP for a given economy. What is the value of interest in…

A: Here we calculate the interest  rate by  calculating the GDP , and put in Income method and choose…

Q: Jsing the standard expenditure method, the total contribution of this shirt to GDP is $

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Which of the following are included in GDP, and which are not? a. The cost of hospital stays b. The…

A: Hello. Since your question has multiple sub-parts, we will solve the first three sub-parts for you.…

Q: 2. Is the value of a house built in 2000 and resold in 2013 included in the GDP of 2013? Briefly…

A: The total economic final products and services generated inside a nation and year are tallied as…

Q: Next to each of the following items indicate in the table which items belongs to GDP and which to…

A: Introduction Gross domestic product is defined as the market value of all final goods and services…

Q: Below is a summary of the goods produced by a small economy in 2017: Product       Quantity…

A: GDP: It means the total monetary or market value of all the finished goods and services that are…

Q: Last year, a small nation with abundant forest cut down $200 worth of trees. It then turned $100…

A: We will use Value of output approach to calculate the GDP for the given nation. Each activity adds…

Q: Consider the following data for a hypothetical economy that produces two goods, milk and honey.…

A: To solve the given problems, we need to calculate the nominal GDP for each year, determine the…

Q: The truck manufacturer purchased $8,000 in intermediate goods produced this year by domestic firms…

A: Gross domestic product or income refers to the total market value of goods and services produced…

Q: One bag of coffee beans is sold for $5 to a cafe that uses it to brew coffee which it sells to…

A: Gross Domestic Product (GDP) is the total value of goods and services produced within the domestic…

Q: These are Macroeconomic questions a. Farmers in Country A grow $150 worth peanuts which are sold to…

A: To calculate the GDP of Country A and B, we can use the value of final goods approach and the…

Q: 72. Which of the following expenditures would increase the consumption component of GDP?

A: Under the expenditure approach, GDP is equal to the total amount of money spent on personal…

Q: ars in the 4th quarter of 2005. The rest of the cars were sold in a later time period. The…

A: Given: Number of cars produced=2000 cars Number of cars sold=1800 cars Price of car=$10,000 each

Q: Suppose we have a two good economy that produces beef and soy.The price of a unit of beef = $19 and…

A: Price of a unit of beef = $19 Price of a unit of soy = $14 Quantity of beef produced = 125 units…

Q: Which of the following would increase the consumption component of U.S. GDP? Select one: OA. A Baton…

A: GDP refers to the gross domestic product that refers to the monetary value of all final goods and…

Q: If a country's real GDP per capita declines, this means that which of the following may have…

A: "Since you have asked multiple questions, we will solve first question for you .. If you want any…

Q: Value added. Company A sells four tires to Company X for $200. Company B sells a CD player to…

A: Gross Domestic Product (GDP) is the total monetary or market value of all the finished goods and…

Q: A farmer grows a bushel of wheat and sells it to a Miller for $20.00. The Miller turns the wheat…

A: According to question, A farmer produces a bushel of wheat and sells it for $20.00 to a Miller. The…

Q: Product Price Quantity Shovels $10 50 Books $20 100 Tomatoes. $1 1000 Pizzas $15 200 Suppose a small…

A: Nominal GDP is the value of all final goods and services in an economy. So we multiply the quantity…

Q: In 2013, Blackberry bought $100 million in parts in New York and $150 million in par Ontario to…

A: In 2013, Blackberry bought $150 million in parts in Ontario to produce $600 million worth of phones…

Q: 1) How do the following events influence Turkish GDP? a. Mothers living in Turkey take care of their…

A: GDP: It is the final market value of goods and services produced in the country during a year.

Q: During 2009, the leather company produced enough leather for 20 couches. The couch manufacturing…

A: Here GDP will be calculated based on value added in each process

Q: The following is an economy where there are only three goods produced. Wheat, dough, and Subway…

A: (Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Refer to Table below. Suppose that a simple economy produces only four goods and services:…

A: Gross domestic product is the value of final goods and services produced in the economy within a…