The Table Given Below Reports the Value of Sales at Each

question 46

Multiple Choice

The table given below reports the value of sales at each stage of production of an economics book.
Table 5.1
$\begin{array}{c}\text { The Production of an Economics Book }\\\begin{array}{|l|c|}\hline {\text { Production Stage }} & \text { Sales Value } \\\hline \text { Purchase of Timber } & \$ 1.25 \\\hline \text { Processing of Timber into Paper } & \$ 7.75 \\\hline \text { Printing } & \$ 24.50 \\\hline \text { Retail Sales of Economics Book } & \$ 38.00 \\\hline\end{array}\end{array}$
-Refer to Table 5.1. What is the contribution to GDP from the production of an economics book?

• A) $13.50
• B) $7.75
• C) $24.50
• D) $38
• E) $71.50

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Definitions:

Matched by Employer

Contributions made by an employer to match the amount an employee contributes to their retirement plan or similar benefit program.

FICA - Social Security

A U.S. federal program funded by payroll taxes under the Federal Insurance Contributions Act (FICA) aimed at providing retirement, disability, and survivors' benefits.

Withheld

Referring to the portion of an employee's wages not paid directly to the employee but instead held back, often for tax purposes.

Matched by Employer

Refers to contributions that an employer makes to an employee's retirement plan, equal to the amount the employee contributes up to a certain percentage.