A Farmer Sells Sugar to a Candy Producer for $150

question 149

Short Answer

A farmer sells sugar to a candy producer for $150. If the producer uses this sugar to make candy that sells for $200, what is the total contribution to GDP from these transactions?

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Definitions:

Winner-Take-All System

A winner-take-all system is an electoral system in which the candidate receiving the most votes wins the office or prize in question, with no rewards for those who finish second or lower.

Proportional Representation

Proportional representation is an electoral system in which parties gain seats in proportion to the number of votes cast for them.

Single-Seat

Pertaining to electoral systems or legislative chambers in which one representative is elected from each district or constituency.

Winner-Take-All

An electoral system in which the candidate receiving the most votes wins all the available seats or delegates, as opposed to proportional representation.