Carl's Computer Center Sells Computers to Business Firms

question 57

Essay

Carl's Computer Center sells computers to business firms.Businesses then use the computers to produce other goods and services.Over the past year,sales representatives were paid $3.5 million,$0.5 million went for rent on the building,$0.5 million went for taxes,$0.5 million was profit for Carl,and $10 million was paid for computers at the wholesale level.What was the firm's total contribution to GDP?

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Definitions:

International Court

A judicial body established by states to adjudicate legal disputes among nations, such as the International Court of Justice.

Equitable Maxim

A principle or proposition of law applied in the administration of equity based on fairness, moral righteousness, and justice, rather than strict rules of law.

Equity

A branch of law that deals with remedies other than monetary compensation, focusing on fairness and justice.

Substance

The essential part or core of something, as opposed to its form or external attributes.