Carl B. Cotton owns a 10-acre farm filled with cotton plants. Each year he hires a few workers to pick the cotton and he sells it to Candy's Cloth for $5,000. Candy uses the cotton to makes bolts of cloth that she sells for $9,000 to Ted's T-Shirts. Ted makes t-shirts with the cloth and sells the shirts to consumers for a total of $12,000. As a result of these transactions GDP increases by $  . The value added by Carl is $  . The value added by Candy is $  . The value added by Ted is $

Economics For Today
10th Edition
ISBN:9781337613040
Author:Tucker
Publisher:Tucker
Chapter15: Gross Domestic Product
Section: Chapter Questions
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Carl B. Cotton owns a 10-acre farm filled with cotton plants. Each year he hires a few workers to pick the cotton and he sells it to Candy's Cloth for $5,000. Candy uses the cotton to makes bolts of cloth that she sells for $9,000 to Ted's T-Shirts. Ted makes t-shirts with the cloth and sells the shirts to consumers for a total of $12,000.

As a result of these transactions GDP increases by $  .

The value added by Carl is $  .

The value added by Candy is $  .

The value added by Ted is $ 

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