Assume that a grower of flower bulbs sells its annual output of bulbs to an Internet retailer for $80,000. The retailer, in turn, brings in $155,000 from selling the bulbs directly to final customers. What amount would these two transactions add to personal consumption expenditures and thus to GDP during the year?

What will be an ideal response?


155,000

Economics

You might also like to view...

If two duopolists can collude successfully, then both will

A) earn greater profits than if they did not collude. B) price at marginal cost. C) price below average total cost. D) lower their economic profits.

Economics

The terms "correlation" and "causation" are synonymous

a. True b. False Indicate whether the statement is true or false

Economics

The U.S. dollar exchange rate is determined by the:

a. World Bank. b. Federal Reserve. c. Forces of supply and demand. d. International Monetary Fund. e. U.S. government.

Economics

As a result of the existence of automatic stabilizers

A. the government budget deficit will always increase during a period of economic recession. B. the economy will always tend to move toward a full-employment equilibrium. C. the government budget deficit will always increase during a period of economic expansion. D. the business cycle will no longer exist. E. None of the choices are correct.

Economics