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Scott is a woodworker and charges $125 an hour for his time manufacturing custom-made wood products.

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Scott is a woodworker and charges $125 an hour for his time manufacturing custom-made wood products.

Scott is a woodworker and charges $125 an hour for his time manufacturing custom-made wood products. For his wife's birthday, he designs and creates an intricate birdseye maple jewelry box that takes him 15 hours to complete. By how much and in what direction does GDP change as a result of his efforts?
A) GDP rises by $1,875.
B) GDP is not affected by Scott's production of the jewelry box.
C) GDP rises by $125.
D) GDP falls by $1,875.

Textbook

Essentials of Economics

Edition: 4^th

Authors: Hubbard, O'Brien

Read 480 times

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Repeat after me: 'Calm down. Things are gonna be fine. Things are gonna be all great. Just relax.' Wink Face

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Chimelo46

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Happy to assist!

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Doopy D.

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Thanks so much!

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