Suppose a painting is created and sold in 2010 for ( 5,000). The expenses involved in producing
Question:
Suppose a painting is created and sold in 2010 for \(£ 5,000\). The expenses involved in producing the painting amounted to \(£ 2,000\). According to the sum-of-value-added method of calculating GDP, the value added by the final step of creating the painting was:
A. \(£ 2,000\).
B. \(£ 3,000\).
C. \(£ 5,000\).
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Related Book For 
Economics For Investment Decision Makers
ISBN: 9781118111963
1st Edition
Authors: Sandeep Singh, Christopher D Piros, Jerald E Pinto
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