An Economy Produces 1,000,000 Computers Valued at $2,000 Each

question 118

Multiple Choice

An economy produces 1,000,000 computers valued at $2,000 each. Households purchase 200,000 computers, of which 100,000 are imported. Businesses purchase 300,000 domestically produced computers, the government purchases 300,000 domestically produced computers, and 100,000 domestically produced computers are sold abroad. The unsold computers at the end of the year are held in inventory by the computer manufacturers. What is the value of GDP?

• A) $0.9 billion
• B) $1.0 billion
• C) $1.8 billion
• D) $2.0 billion

Comprehend the factors influencing world population projections.

Grasp the principle of energy demand variability.

Examine the effects of living standards on energy use and birthrates.

Understand the economics behind electricity generation costs.

---

Definitions:

Common Law Lien

A right to keep possession of property belonging to another person until a debt owed by that person is paid in full.

Statute

A written law passed by a legislative body at the federal, state, or local level.

Property Claim

A legal assertion by an individual or entity over the ownership or compensation for loss or damage to property.

Judgment Creditor

A person or entity that has been awarded a monetary judgment against a debtor by a court, giving them the right to collect the debt.