Arthur sells $100 worth of cotton to Bob. Bob turns the cotton into cloth, which he sells to Camille for $300. Camille uses the cloth to make prom dresses that she sells to Donita for $800. Donita sells the dresses for $1,600 to kids attending the prom. The total contribution to GDP of this series of transactions is Multiple Choice $1,600. $1,500. $2,800. $800

Arthur sells $100 worth of cotton to Bob. Bob turns the cotton into cloth, which he sells to Camille for $300. Camille uses the cloth to make prom dresses that she sells to Donita for $800. Donita sells the dresses for $1,600 to kids attending the prom. The total contribution to GDP of this series of transactions is Multiple Choice $1,600. $1,500. $2,800. $800

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter4: The Aggregate Economy

Section: Chapter Questions

Problem 6E

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