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21 Oct 2020
A farmer harvests a sack of cotton and sells it to a textile factory for $30.00. The factory turns the cotton plant into cotton fabric and then sells the fabric to a tailor for $50.00. The tailor uses the fabric to make suits and sells the suit to a lawyer for $500.00. The lawyer gives the suit to someone else. What is the GDP in this closed, simple economy?
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$550
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$580
-
$500
-
$520
A farmer harvests a sack of cotton and sells it to a textile factory for $30.00. The factory turns the cotton plant into cotton fabric and then sells the fabric to a tailor for $50.00. The tailor uses the fabric to make suits and sells the suit to a lawyer for $500.00. The lawyer gives the suit to someone else. What is the GDP in this closed, simple economy?
-
-
$550
-
$580
-
$500
-
$520
-
Kristelle BalandoLv10
21 Oct 2020
