Suppose a 1-pound steak sells at a grocery store for $7. Suppose that the grocery store purchased it from a butcher for $4. Suppose the butcher bought cattle from farmers for $2 per sellable pound, paid their labor approximately $1 for pound of sellable beef labor, and made $1 in profit. What is the GDP contribution of the steak?
A. It is $15.
B. It is $4.
C. It is $11.
D. It is $7.
Answer: D
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