In Lumberville,the Lumberjack Cuts Trees and Sells Them to the Local

question 13

Multiple Choice

In Lumberville,the lumberjack cuts trees and sells them to the local mill for $500.The local mill processes these trees into wood planks and sells them to the carpenter for $800.Finally,the carpenter uses these wood planks to make tables which he sells for $1400 to Lumberville's residents.If we allowed double counting,the total value of Lumberville's output would be calculated as ________.But if we correctly compute the total value added,the value of the total output in Lumberville would be ________.

• A)$1400; $1400
• B)$2200; $2700
• C)$2200; $4200
• D)$2700; $1400
• E)$4200; $2700

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Definitions:

Difficult Task

A task that poses a significant challenge to an individual, often requiring substantial effort, skill, or knowledge to complete.

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a projective psychological test that assesses a person's patterns of thought, attitudes, observational capacity, and emotional responses to ambiguous test materials.

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A psychological assessment that measures individuals' belief about the extent to which they can control events affecting them.