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The Economic Way of Thinking 13th Edition by David Prychitko, Peter Boettke, Paul Heyne
Edition 13ISBN: 9780132992695The Economic Way of Thinking 13th Edition by David Prychitko, Peter Boettke, Paul Heyne
Edition 13ISBN: 9780132992695 Exercise 9
Suppose Apple produces 10,000 MacBooks in December of 2013 with an estimated market value of $2,000 each. None of those are sold until some time in the spring of 2014.
(a) How much would GDP increase in 2013?
(b) How much would GDP increase in 2014?
(c) Suppose Apple decides to actually raise their price at the beginning of 2014 and successfully sells all of them for $2,100 each in 2014. How does this affect 2013 GDP?
(a) How much would GDP increase in 2013?
(b) How much would GDP increase in 2014?
(c) Suppose Apple decides to actually raise their price at the beginning of 2014 and successfully sells all of them for $2,100 each in 2014. How does this affect 2013 GDP?
Explanation
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Gross domestic product is the worth of a...
The Economic Way of Thinking 13th Edition by David Prychitko, Peter Boettke, Paul Heyne
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