A Chinese restaurant buys 100 cups of rice for a total of $10; they buy soy, fish and oyster sauces for a total of $20; they buy assorted vegetables for $40. They create 50 meals with these ingredients and sell each one for $5.00. How much does this process contribute to GDP? Round to two decimals.

A Chinese restaurant buys 100 cups of rice for a total of $10; they buy soy, fish and oyster sauces for a total of $20; they buy assorted vegetables for $40. They create 50 meals with these ingredients and sell each one for $5.00. How much does this process contribute to GDP? Round to two decimals.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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Question

A Chinese restaurant buys 100 cups of rice for a total of $10; they buy soy, fish, and oyster sauces for a total of $20; they buy assorted vegetables for $40. They create 50 meals with these ingredients and sell each one for $5.00.

How much does this process contribute to GDP? Round to two decimals.

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Gross domestic product is the value of all the final goods and services produced in the country in a year.

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