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
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