The Production of a Certain Good Involves 5 Stages

question 3

Multiple Choice

The production of a certain good involves 5 stages. The value added after the first stage of production occurs is is $1.20. The sale price of the good is $2.50. What amount is used to measure GDP?

• A) $0.025
• B) $1.20
• C) $1.30
• D) $2.50

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Definitions:

Involuntary Responses

Reflex actions that occur without conscious control, such as breathing, blinking, or the heartbeat.

Reaction Times

The duration of time taken to respond to a stimulus, often used to measure the speed of nervous system processing.

Msec

Abbreviation for milliseconds, a unit of time equal to one thousandth of a second.

Reaction Time

The amount of time it takes to respond to a stimulus, critical in many aspects of human performance and safety.