A US-Owned Automobile Factory Uses $100,000 Worth of Parts Purchased from from Foreign

question 244

Multiple Choice

A U.S.-owned automobile factory uses $100,000 worth of parts purchased from foreign countries along with U.S. inputs to produce 30 cars worth $20,000 each. Twenty of these cars are sold and 10 are left in inventory. How much did these actions add to GDP?

• A) $300,000
• B) $500,000
• C) $600,000
• D) $700,000

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Definitions:

Unjust Enrichment

A legal concept where a person unfairly benefits at another's expense without a legally justified reason.

Breach of Contract

Occurs when one party fails to fulfill their obligations under a contract, leading to legal consequences.

Lottery Office

A place or establishment where lottery tickets are sold and winning tickets are redeemed.

Play Slip

A form or ticket used by players to select numbers for lottery games before purchase.