The following table shows the results of operations of a dishwasher manufacturer in 2021. Price per dishwasher sold in 2021 Total Number of dishwashers produced in 2021 Total number of dishwashers sold in 2021 Number of dishwashers sold in 2021 produced in 2020 Costs of parts and components used in production Wages paid in 2021 Rent and interest paid in 2021 $1,000 9,000 8,000 2,000 $2,000,000 $4,500,000 $500,000 National income accountants will include from the above table in the 2021 GDP. However, the manufacturer's value added in 2021 to the GDP only equals dollars. This is how much this producer's 2021 activities contributes to total GDP in 2021. From the viewpoint of national income accountants, this producer's profit resulting from 2021 production activities equals dollars. dollars

The following table shows the results of operations of a dishwasher manufacturer in 2021. Price per dishwasher sold in 2021 Total Number of dishwashers produced in 2021 Total number of dishwashers sold in 2021 Number of dishwashers sold in 2021 produced in 2020 Costs of parts and components used in production Wages paid in 2021 Rent and interest paid in 2021 $1,000 9,000 8,000 2,000 $2,000,000 $4,500,000 $500,000 National income accountants will include from the above table in the 2021 GDP. However, the manufacturer's value added in 2021 to the GDP only equals dollars. This is how much this producer's 2021 activities contributes to total GDP in 2021. From the viewpoint of national income accountants, this producer's profit resulting from 2021 production activities equals dollars. dollars

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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