You bought an old car a couple years ago for $1,000 and put about $5,000 of parts

Question:

You bought an old car a couple years ago for $1,000 and put about $5,000 of parts and labor into improving it. You sold it yesterday for $3,000. How does this sale affect GDP? Explain.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Principles Of Economics

ISBN: 9781319330156,9781319419769

2nd Edition

Authors: Betsey Stevenson, Justin Wolfers

See More Books

Question Posted: Feb 20, 2024 01:01 AM

See More Questions

KYC's stock price can go up by 15 percent every year, or down by 10 percent. Both outcomes are equally likely. The risk free rate is 5 percent, and the current stock price of KYC is 100. (a) Price a...
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
1. Hannah is applying for a life policy on her girlfriend Sarahs life. The policy is $500,000 and carries a large premium. Hannah is the main earner, so she is concerned about not being able to pay...
One end of a light, elastic string, of natural length 1.2m and modulus of elasticity 32N, is attached to a fixed point, B. A particle, P, of mass 1.5 kg, is then attached to the other end of the...
Ingalls Company sells $300,000 of 10% bonds on Feb 1, 2003. The bonds pay interest on August 1 and February 1. The due date of the bonds is August 1, 2006. The bonds yield 12%. The company has a year...
Sarah works for a company in Edmonton, Alberta. She earns $29.91 per hour works 75 hours per pay period and is paid on a way to the company pays 100% of group term life insurance premiums for its...
What do we need to make it? LO,1
KC Company began operations when it acquired $30,000 cash from the issue of common stock on January 1, 2011. The cash acquired was immediately used to purchase equipment for $30,000 that had a $5,000...
Top managers of Rouse Industries predicted 2018 sales of 14,600 units of its product at a unit price of $6.00. Actual sales for the year were 14,000 units at $9.50 each. Variable costs were budgeted...
For each of the following transactions, determine if it takes place in the market for outputs or the market for inputs. Then, determine the direction of the flow of goods and services and the flow of...
You have decided to open a salad shop. Use the interdependence principle to describe how this impacts the economy by drawing a circular flow diagram. Make sure you draw and explain the flows of...
Using (6.13) and (6.14), verify that $\Omega \Omega^{-1}=I$ and $\Omega^{-1 / 2} \Omega^{-1 / 2}=\Omega^{-1}$. (6.13) I=! 100]= 4 25
Dr. Stanley and his staff are attempting to utilize effective ways to both increase the revenue for the practice and allow patients to schedule visits without a lengthy delay. Which of the following...
An epidemiologist plans to conduct a survey to estimate the percentage of women who give birth. How many women must be surveyed in order to be 95% confident that the estimated percentage is in error...
Centurion Inc. manufactures lighting equipment. It consists of several operating divisions within its business. Division A has decided to go outside the company to purchase materials since Division B...
Meta has also reduced its operations, and instead focused on retaining wealth for research and development, as well as increasing shareholder returns...What does this mean for the company's future?
Please answer the following question short and simple: Tom Anderson is the controller for Morningside Medical Clinic. At the end of each month, the financial management system used by Morningside...
Using molecular orbital theory, determine the electronic structure of the first excited electronic state of N2. What differences are expected in the properties of the excited state of N2 compared...
If a force of F = 50 Ib is applied to the pads at A and C, determine the smallest dimension d required for equilibrium if the spring has an unstretched length of 1 ft. B 1 ft 1 ft F k = 15016/fr 1ft...
Under what condition is the price elasticity of supply zero?
Why is long-run price elasticity of supply greater than short-run price elasticity of supply?
Suppose, at a party for economics majors, you win a choice among three mystery boxes. You don't know what each contains, but you know that each box has a pair of gifts. You know that one box has a CD...
Slow Roll Drum Co. is evaluating the extension of credit to a new group of customers. Although these customers will provide $198,000 in additional credit sales, 13 percent are likely to be...
Wendell's Donut Shoppe is investigating the purchase of a new $39,600 conut-making machine. The new machine would permit the company to reduce the amount of part-time help needed, at a cost savings...
1.Discuss the challenges faced with Valuing Stocks and Bonds. As part of this discussion, how will the selected item be implemented in an organization and its significance? 2. Discuss how Valuing...

You bought an old car a couple years ago for $1,000 and put about $5,000 of parts

Question:

Step by Step Answer:

The sale of the car affects GDP in two ways 1 Consumption The initial purchase ...View the full answer

Principles Of Economics

Students also viewed these Business questions