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

question 155

Multiple Choice

An economy produces 500,000 tables valued at $100 each.Households purchase 100,000 tables,of which 50,000 are imported.Businesses purchase 200,000 domestically-produced tables.The government purchases 100,000 domestically-produced tables,and 50,000 domestically-produced tables are sold abroad.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.

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Definitions:

Workforce Size

The total number of employees or workers employed by a company, organization, or within a specific division or team.

Aggregate Planning Strategies

Approaches used by management to develop plans to meet production requirements, considering workforce size, inventory levels, and production rates.

Competitor

An individual or organization that competes against others in the same industry or market for customers, sales, or resources.

Capacity Option

An approach within operations management to adjust and allocate resources and production capability to meet fluctuating demand.