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Sublight2097 Sublight2097
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8 years ago
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 $250. As a result, GDP increases by
A) $50.
B) $250.
C) $550
D) $690.
E) none of the above.
Textbook 
The Economic Way of Thinking

The Economic Way of Thinking


Edition: 13th
Authors:
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SydnieSydnie
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8 years ago
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Sublight2097 Author
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#2
8 years ago
Another one in the books, marking it solved.
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