During 2009, the leather company produced enough leather for 20 couches. The couch manufacturing company bought 80% of that leather for $16,000 and promised to buy the remaining 20% for $4,000 in 2010. The couch manufacturing company produced 16 couches during 2009 and sold each one during that year for $3,000. What was the contribution to GDP for 2009? Select one: O a. $68,000 O'b. $48,000 O c. $52,000 O d. $64,000

Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter7: Taking The Nation's Economic Pulse
Section: Chapter Questions
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During 2009, the leather company produced enough leather for 20 couches. The couch manufacturing
company bought 80% of that leather for $16,000 and promised to buy the remaining 20% for $4,000 in
2010. The couch manufacturing company produced 16 couches during 2009 and sold each one during that
year for $3,000. What was the contribution to GDP for 20097
Select one:
a,
$68,000
O'b. $48,000
Oc. $52,000
O đ. $64,000
Transcribed Image Text:During 2009, the leather company produced enough leather for 20 couches. The couch manufacturing company bought 80% of that leather for $16,000 and promised to buy the remaining 20% for $4,000 in 2010. The couch manufacturing company produced 16 couches during 2009 and sold each one during that year for $3,000. What was the contribution to GDP for 20097 Select one: a, $68,000 O'b. $48,000 Oc. $52,000 O đ. $64,000
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