Each year, Johan typically does all his own landscaping and yard work. He spends $204 per year on mulch for his flower beds, $205 per year on flowers and plants, $55 on fertilizer for his lawn, and $246 on gasoline and lawn mower maintenance. The lawn and garden store where he obtains his mulch and fertilizer charges other customers $500 for the service of spreading that much mulch in flower beds and $49 for the service of distributing fertilizer over a yard the size of Johan's. Paying a professional yard care service to mow his lawn would require an expenditure of $1,299 per year, but in that case Johan would not have to buy gasoline or maintain hi: own lawn mower. a. In a normal year, calculate by how much does Johan's landscaping and yard work contribute to GDP $ b. Suppose that Johan has developed allergy problems this year and will have to reduce the amount of his yard work. He can wear a mask while running his lawn mower, so he will keep mowing his yard, but he will pay the lawn and garden center to spread mulch and distribute fertilizer. How much will all the work on Johan's yard contribute to GDP this year?

Each year, Johan typically does all his own landscaping and yard work. He spends $204 per year on mulch for his flower beds, $205 per year on flowers and plants, $55 on fertilizer for his lawn, and $246 on gasoline and lawn mower maintenance. The lawn and garden store where he obtains his mulch and fertilizer charges other customers $500 for the service of spreading that much mulch in flower beds and $49 for the service of distributing fertilizer over a yard the size of Johan's. Paying a professional yard care service to mow his lawn would require an expenditure of $1,299 per year, but in that case Johan would not have to buy gasoline or maintain hi: own lawn mower. a. In a normal year, calculate by how much does Johan's landscaping and yard work contribute to GDP $ b. Suppose that Johan has developed allergy problems this year and will have to reduce the amount of his yard work. He can wear a mask while running his lawn mower, so he will keep mowing his yard, but he will pay the lawn and garden center to spread mulch and distribute fertilizer. How much will all the work on Johan's yard contribute to GDP this year?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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