If a pizza maker pays $1 for tomatoes, $1 for cheese, $2 for sausage, and sells the pizza made with these ingredients for $7, then each pizza sold contributes how much to GDP?

A. $7
B. $3
C. $4
D. $11


Answer: A

Economics

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Since Ditto can always be expected to choose the same activity as Dot in the copycat game

a. any move by Dot to escape from Ditto would not be a Pareto improvement. b. any move by Dot to escape from Ditto would be a Pareto improvement. c. Ditto's choice to follow Dot is a Pareto improvement over going by himself. d. Ditto's choice to follow Dot would be a Pareto improvement over playing by himself so long as Dot does not move.

Economics

Neither the supply of nor demand for a good is perfectly elastic or perfectly inelastic. So, imposing a tax on the good results in ________ in the price received and kept by sellers and a ________ in the price paid by buyers

A) a rise; rise B) a rise; fall C) a fall; rise D) a fall; fall E) no change; rise

Economics

Show that the slope of the market demand curve is the summation of the slopes of individuals' demand curves

What will be an ideal response?

Economics

In the long run, when marginal cost is above average total cost, the average total cost curve exhibits

a. economies of scale. b. diseconomies of scale. c. constant returns to scale. d. efficient scale.

Economics