In Order to Build a Table,a Furniture Company Buys $50

question 31

Multiple Choice

In order to build a table,a furniture company buys $50 worth of wood from a lumber company and $20 worth of hardware from a metal products firm.If the value added by the furniture company is $200,what price would the table sell for according to the value added approach to GDP?

• A) $130
• B) $150
• C) $180
• D) $200
• E) $270

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Definitions:

Economic Depression

A long-term downturn in economic activity characterized by high unemployment, low consumer spending, and business failures.

Financial Capitals

Cities that serve as major hubs for financial services, banking, and investment, impacting global finance.

Population Increase

The growth in the number of individuals within a population, often attributed to factors like higher birth rates and lower mortality rates.

Birth Rate

The quantitative measure of the number of births in a given population, area, or period, usually expressed per 1000 individuals per year.