During 2009, the leather company produced enough leather for 20 couches. The couch manufacturing company bought 80% of that leather for $16,000 and promised to buy the remaining 20% for $4,000 in 2010. The couch manufacturing company produced 16 couches during 2009 and sold each one during that year for $3,000. What was the contribution to GDP for 2009? Select one: a. $52,000 a. $52,000 b. $64,000 b. $64,000 c. $48,000 c. $48,000 d. $68,000
During 2009, the leather company produced enough leather for 20 couches. The couch manufacturing company bought 80% of that leather for $16,000 and promised to buy the remaining 20% for $4,000 in 2010. The couch manufacturing company produced 16 couches during 2009 and sold each one during that year for $3,000. What was the contribution to GDP for 2009? Select one: a. $52,000 a. $52,000 b. $64,000 b. $64,000 c. $48,000 c. $48,000 d. $68,000
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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During 2009, the leather company produced enough leather for 20 couches. The couch manufacturing company bought 80% of that leather for $16,000 and promised to buy the remaining 20% for $4,000 in 2010. The couch manufacturing company produced 16 couches during 2009 and sold each one during that year for $3,000. What was the contribution to GDP for 2009?
Select one:
a.
$52,000
a. $52,000
b.
$64,000
b. $64,000
c.
$48,000
c. $48,000
d.
$68,000
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