A Rancher Raises Sheep

question 73

Multiple Choice

A rancher raises sheep. Once a year he shears them and sells the raw wool to a processor who cleans it and spins it into yarn. The yarn is then sold to a knitting mill, which produces and sells sweaters. In calculating GDP we would count

• A) the raw wool, the yarn and the sweaters.
• B) only the yarn and the sweaters.
• C) only the sweaters.
• D) only the raw wool and the yarn.

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