Author Question: Consider the following simplified sequence of exchanges. A logger sells an oak tree to a sawmill ... (Read 69 times)

plus1

  • Hero Member
  • *****
  • Posts: 676
Consider the following simplified sequence of exchanges. A logger sells an oak tree to a sawmill owner for 60. The sawmill mills it, and sells the boards to a woodworker for 80.
 
  The woodworker makes an oak bookcase out of the boards, and sells it to a retailer for 300. The retailer then sells you the bookcase for 500. As a result, GDP increases by A) 200.
  B) 300.
  C) 440.
  D) 500.
  E) 940.

Question 2

Roughly what was the change in Columbia's per capita GDP between 1960 and 2011?
 
  A) 25
  B) 90
  C) 150
  D) 185



sultansheikh

  • Sr. Member
  • ****
  • Posts: 335
Answer to Question 1

D

Answer to Question 2

D



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

The human body produces and destroys 15 million blood cells every second.

Did you know?

The first documented use of surgical anesthesia in the United States was in Connecticut in 1844.

Did you know?

Anti-aging claims should not ever be believed. There is no supplement, medication, or any other substance that has been proven to slow or stop the aging process.

Did you know?

There are more bacteria in your mouth than there are people in the world.

Did you know?

According to animal studies, the typical American diet is damaging to the liver and may result in allergies, low energy, digestive problems, and a lack of ability to detoxify harmful substances.

For a complete list of videos, visit our video library