Scott is a woodworker and charges $125 an hour for his time manufacturing custom-made wood products. For his wife's birthday, he designs and creates an intricate birdseye maple jewelry box that takes him 15 hours to complete. By how much and in what direction does GDP change as a result of his efforts?
a. GDP rises by $1,875.
b. GDP is not affected by Scott's production of the jewelry box.
c. GDP rises by $125.
d. GDP falls by $1,875.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Scott is a woodworker and charges $125 an hour for his time manufacturing custom-made wood products. For his wife's birthday, he designs ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
The Fremont Company uses the weighted-average method in its process costing system. The company recorded 42,500 equivalent units for conversion costs for November in a particular department.
Answers (1)
Name the type of unemployment occurring in each of the causes below and explain your answer. (a) Frank recently lost his job as the computer manufacturing company he works for recently downsized after poor sales and poor performance of the economy
Answers (1)
Which of the following statements are true? Select all that apply and click on Submit Different companies will use different charts of accounts based on individual company need.
Answers (1)
The money paid to stockholders from the corporation's profit is known as
Answers (1)
What is the normal balance for the allowance for doubtful accounts (debit or credit), and why?
Answers (1)
New Questions in Business
What is Average cost
Answers (1)
FetchFun Inc. is currently an all-equity firm with 20 million shares outstanding and a stock price of $7.50 per share. FetchFun Inc. plans to announce that it will borrow $50 million and use the proceeds to repurchase shares. FetchFun Inc.
Answers (1)
What is the largest level of organization for the environment?
Answers (1)
An advantage of the prototype model in describing how we think about concepts is that
Answers (1)
Near the end of the eighteenth century, the dollar: a. was a nickname for the Spanish Peso. b. was more plentiful than any other coin. c. was customarily used to reckon accounts. d. All of the above are correct.
Answers (1)