In 2009, Corny Company grows and sells $2 million worth of corn to Tasty Cereal Company, which makes corn flakes. Tasty Cereal Company produces $6 million worth of corn flakes in 2009, with sales to households during the year of $4.5 million. The unsold $1.5 million worth of corn flakes remains in Tasty Cereal Company's inventory at the end of 2009. The transactions just described contribute how much to GDP for 2009? Select one: O a. $6 million O b. $4.5 million Oc. $6.5 million O d. $8 million
In 2009, Corny Company grows and sells $2 million worth of corn to Tasty Cereal Company, which makes corn flakes. Tasty Cereal Company produces $6 million worth of corn flakes in 2009, with sales to households during the year of $4.5 million. The unsold $1.5 million worth of corn flakes remains in Tasty Cereal Company's inventory at the end of 2009. The transactions just described contribute how much to GDP for 2009? Select one: O a. $6 million O b. $4.5 million Oc. $6.5 million O d. $8 million
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
![In 2009, Corny Company grows and sells $2 million worth of corn to Tasty Cereal Company, which makes
corn flakes. Tasty Cereal Company produces $6 million worth of corn flakes in 2009, with sales to
households during the year of $4.5 million. The unsold $1.5 million worth of corn flakes remains in Tasty
Cereal Company's inventory at the end of 2009. The transactions just described contribute how much to
GDP for 2009?
Select one:
O a. $6 million
O b. $4.5 million
Oc.
$6.5 million
O d. $8 million](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd603223c-fdf8-49b1-85a9-ebfaf493932c%2F3f7974c3-d0a9-4239-a350-066b69ef5b12%2Fb4a9xif_processed.png&w=3840&q=75)
Transcribed Image Text:In 2009, Corny Company grows and sells $2 million worth of corn to Tasty Cereal Company, which makes
corn flakes. Tasty Cereal Company produces $6 million worth of corn flakes in 2009, with sales to
households during the year of $4.5 million. The unsold $1.5 million worth of corn flakes remains in Tasty
Cereal Company's inventory at the end of 2009. The transactions just described contribute how much to
GDP for 2009?
Select one:
O a. $6 million
O b. $4.5 million
Oc.
$6.5 million
O d. $8 million
![Calculate GDP using the information in the table below:
$Billions
Government purchases of goods 1200
Services
500
Imports
400
Change in business inventories 50
Durable goods
300
Nondurable goods
600
Exports
250
Residential investment
200
Government purchases of services 500
Nonresidential investment
650
Select one:
О а. 4150
O b. 3850
Ос. 4650
O d. 4000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd603223c-fdf8-49b1-85a9-ebfaf493932c%2F3f7974c3-d0a9-4239-a350-066b69ef5b12%2Fi7hj2ru_processed.png&w=3840&q=75)
Transcribed Image Text:Calculate GDP using the information in the table below:
$Billions
Government purchases of goods 1200
Services
500
Imports
400
Change in business inventories 50
Durable goods
300
Nondurable goods
600
Exports
250
Residential investment
200
Government purchases of services 500
Nonresidential investment
650
Select one:
О а. 4150
O b. 3850
Ос. 4650
O d. 4000
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