The truck manufacturer purchased $8,000 in intermediate goods produced this year by domestic firms and $5,000 from foreign firms to make 2 truckm It sold the first truck for $21,000 to a domestic retailer who sold it to Mohd for $27,000. It sold the second truck to the domestic government for $25,000. Assuming everything happened this year, what was the total contribution of these trucks to domestic GDP?
The truck manufacturer purchased $8,000 in intermediate goods produced this year by domestic firms and $5,000 from foreign firms to make 2 truckm It sold the first truck for $21,000 to a domestic retailer who sold it to Mohd for $27,000. It sold the second truck to the domestic government for $25,000. Assuming everything happened this year, what was the total contribution of these trucks to domestic GDP?
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter7: Macroeconomic Measurements, Part Ii: Gdp And Real Gdp
Section: Chapter Questions
Problem 4WNG
Related questions
Question
N6
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Economics (MindTap Course List)
Economics
ISBN:
9781337617383
Author:
Roger A. Arnold
Publisher:
Cengage Learning
Economics (MindTap Course List)
Economics
ISBN:
9781337617383
Author:
Roger A. Arnold
Publisher:
Cengage Learning