Multiple Choice
You own and run a bakery. Last month, you purchased $760 worth of flour, eggs, butter, chocolate, and frosting. Using these inputs, you made and sold 12 large wedding cakes for an average price of $525. How much did GDP change?
A) GDP rises by $760.
B) GDP rises by $6,300.
C) GDP rises by $7,060.
D) GDP rises by $5,540.
Correct Answer:
Verified
Correct Answer:
Verified
Q45: In the market for outputs:<br>A)households sell goods
Q46: Goods that are sold in 2020 but
Q47: This question has two parts.<br>(a) Draw and
Q48: In the market for inputs:<br>A)households sell goods
Q49: Macroeconomists:<br>A)analyze aggregate data on real GDP, the
Q51: Refer to the diagram of the circular
Q52: According to the rule of 70, if
Q53: (Table: Pizza Economy III) Use Table:
Q54: The circular flow of income shows that
Q55: During 2000 and 2001, nominal GDP in