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7 (2 points) A rancher raises sheep. Once a year he shears them and sells the raw wool to a processor who cleans it and
7 (2 points) A rancher raises sheep. Once a year he shears them and sells the raw wool to a processor who cleans it and spins it into yarn. The yarn is then sold to a knitting mill, which produces and sells sweaters. In calculating GDP we would count Question 7 options: only the raw wool and the yarn. only the sweaters. the raw wool, the yarn and the sweaters. only the yarn and the sweaters
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