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.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Scott is a woodworker and charges $125 an hour for his time manufacturing custom-made wood products. For his wife's birthday, he designs ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Nadine is the director of marketing for an international athletic footwear manufacturer. She needs to increase sales and has the budget for one project. Which project should she choose?
Answers (1)
Consider the following $1,000 par value zero-coupon bonds: Bond Years until Maturity Yield to Maturity A 1 7.50% B 2 8.50 C 3 9.00 D 4 9.50 a.
Answers (1)
Tara is a junior clerk at an auditing firm. Her supervisor asks her to close all the fictitious accounts before they prepare the Trial Balance. Which account can be termed as a fictitious account? A. fixed assets B. current assets C. capital D.
Answers (1)
Although it is very difficult to measure, measuring technical performance is as important as measuring schedule and cost performance. Group of answer choices True False
Answers (1)
Pratte Boat Wash's cost formula for its cleaning equipment and supplies is $2,600 per month plus $51 per boat. For the month of April, the company planned for activity of 56 boats, but the actual level of activity was 15 boats.
Answers (1)
New Questions in Business
Dave and betsy have run kozy korner for many years, and from that experience they feel knowledgeable about the most likely threats to the business. however, experience has also taught them that completely unexpected events can happen.
Answers (1)
Firm A and Firm B have the same total assets, ROA and profit margin. However, Frim B has a higher debt ratio and interest expense then Firm A. Which of the following statements is correct? A.) Firm B must have a higher ROE than first A. B.
Answers (1)
You own a portfolio that is 32 percent invested in Stock X, 20 percent invested in Stock Y, and 48 percent invested in Stock Z. The expected returns on these three stocks are 6 percent, 19 percent, and 15 percent, respectively.
Answers (1)
Which of the following statements about knowledge is true? Data and information are the same as knowledge. Knowledge resides in information. Knowledge is the understanding that one gains from information.
Answers (1)
A client with acquired immunodeficiency syndrome (AIDS) develops Pneumocystis carinii pneumonia. Which nursing diagnosis has the highest priority? A. Impaired oral mucous membranes B. Activity intolerance C.
Answers (1)