Ms. Blume and Mr. Simon both live in Iowa. In February, a car dealer in Iowa bought a new, just-produced car from the manufacturer for $18,000 and sold it to Ms. Blume for $22,000. In October of the same year, Ms. Blume sold the car to Mr. Simon for $17,000. By how much did these transactions contribute to the national GDP for this year? $18,000 $39,000 $17,000 $22,000
Ms. Blume and Mr. Simon both live in Iowa. In February, a car dealer in Iowa bought a new, just-produced car from the manufacturer for $18,000 and sold it to Ms. Blume for $22,000. In October of the same year, Ms. Blume sold the car to Mr. Simon for $17,000. By how much did these transactions contribute to the national GDP for this year? $18,000 $39,000 $17,000 $22,000
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Ms. Blume and Mr. Simon both live in Iowa. In February, a car dealer in Iowa bought a new, just-produced car from the manufacturer for $18,000 and sold it to Ms. Blume for $22,000. In October of the same year, Ms. Blume sold the car to Mr. Simon for $17,000. By how much did these transactions contribute to the national GDP for this year?
$18,000
$39,000
$17,000
$22,000
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