An Economy Produces Only 500,000 Tables Valued at $100 Each

question 131

Multiple Choice

An economy produces only 500,000 tables valued at $100 each.Of these,100,000 are sold to consumers,200,000 are sold to businesses,100,000 are sold to the government,and 50,000 are sold abroad.No tables are imported.The unsold tables at the end of the year are held in inventory by the table manufacturers.What is the value of GDP?

• A) $5 million.
• B) $40 million.
• C) $45 million.
• D) $50 million.
• E) $95 million.

---

Definitions:

Empathy

The ability to understand and share the feelings of another person from their perspective.

Generativity Versus Stagnation

A stage in Erik Erikson's theory of psychosocial development where middle-aged adults face the challenge of contributing to the next generation or feeling a lack of purpose.

Erik Erickson

A developmental psychologist known for his theory on the psychosocial development of human beings.

Middle Adulthood

A stage of life, typically considered to occur from around age 40 to 65, characterized by stability, maturity, and increased responsibility.