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A.  This year Bob sells 5 houses for a total of $3.37 million dollars.  He earns a 5.61% commission.  All of these houses had been previously lived in.  As a result of these transactions, GDP will increase by how much?  Enter a numerical value rounded to two decimal places as necessary.    B.  A farmer grows wheat and sells it to the miller for $1.14. The miller turns the wheat into flour and sells it to the baker for $2.62. The baker turns the flour into bread and sells it to consumers for $4.86. As a result of these transactions, GDP will increase by how much? Enter a number rounded to two decimal places.

A.  This year Bob sells 5 houses for a total of $3.37 million dollars.  He earns a 5.61% commission.  All of these houses had been previously lived in.  As a result of these transactions, GDP will increase by how much?  Enter a numerical value rounded to two decimal places as necessary.    B.  A farmer grows wheat and sells it to the miller for $1.14. The miller turns the wheat into flour and sells it to the baker for $2.62. The baker turns the flour into bread and sells it to consumers for $4.86. As a result of these transactions, GDP will increase by how much? Enter a number rounded to two decimal places.

Essentials of Economics (MindTap Course List)
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter15: Measuring A Nation's Income
Section: Chapter Questions
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A.  This year Bob sells 5 houses for a total of $3.37 million dollars.  He earns a 5.61% commission.  All of these houses had been previously lived in.  As a result of these transactions, GDP will increase by how much?  Enter a numerical value rounded to two decimal places as necessary. 

 

B.  A farmer grows wheat and sells it to the miller for $1.14. The miller turns the wheat into flour and sells it to the baker for $2.62. The baker turns the flour into bread and sells it to consumers for $4.86. As a result of these transactions, GDP will increase by how much? Enter a number rounded to two decimal places.

 

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