Table 12-5 $\begin{array}{|c|c|c|c|} \hline \text { Stage of Production } & \text { Seller } & \text { Buyer } & \text { Price } \\ \hline 1 & \text { Steelmill } & \text { Auto manufacturer } & \$ 10,000 \\ \hline 2 & \text { Auto manufacturer } & \text { Auto dealer } & 18,000 \\ \hline 3 & \text { Auto dealer } & \text { Consumer } & 25,000 \\ \hline \end{array}$ Consider the table above showing three stages of production of an automobile. -Refer to Table 12-5.The value of each automobile in gross domestic product equals

A) $7,000. B) $15,000. C) $18,000. D) $25,000. A) $7,000. B) $15,000. C) $18,000. D) $25,000.

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Business
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Essentials of Economics Study Set 2

Exam 12: GDP: Measuring Total Production and Income

Exam 1: Economics: Foundations and Models459 Questions

Exam 2: Trade-Offs, Comparative Advantage, and the Market System495 Questions

Exam 3: Where Prices Come From: The Interaction of Demand and Supply476 Questions

Exam 4: Market Efficiency and Market Failure464 Questions

Exam 5: The Economics of Health Care337 Questions

Exam 6: Firms, The Stock Market, and Corporate Governance456 Questions

Exam 7: Consumer Choice and Elasticity384 Questions

Exam 8: Technology,Production,and Costs274 Questions

Exam 9: Firms in Perfectly Competitive Markets297 Questions

Exam 10: Monopoly and Antitrust Policy279 Questions

Exam 11: Monopolistic Competition and Oligopoly410 Questions

Exam 12: GDP: Measuring Total Production and Income261 Questions

Exam 13: Unemployment and Inflation290 Questions

Exam 14: Economic Growth, The Financial System, and Business Cycles251 Questions

Exam 15: Aggregate Demand and Aggregate Supply Analysis286 Questions

Exam 16: Money,Banks,and the Federal Reserve System278 Questions

Exam 17: Monetary Policy280 Questions

Exam 18: Fiscal Policy292 Questions

Exam 19: Comparative Advantage, International Trade, and Exchange Rates443 Questions

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Table 12-5 Stage of Production Seller Buyer Price 1 Steelmill Auto manufacturer \ 10,000 2 Auto manufacturer Auto dealer 18,000 3 Auto dealer Consumer 25,000 Consider the table above showing three stages of production of an automobile. -Refer to Table 12-5.The value of each automobile in gross domestic product equals

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