Question
Stan has a summer beach cottage that he has owned for many years. The cottage is valued at $100,000. Thisyear, Stan spends $300 on paint
Stan has a summer beach cottage that he has owned for many years. The cottage is valued at $100,000. Thisyear, Stan spends $300 on paint and $575 ontrees, and then paints the exterior of the cottage and plants the trees himself. If he had hired a professionalpainter, it would have cost $1,250 to paint the cottage(not including the cost ofpaint), and if he had hired a professionallandscaper, it would have cost $400 (not including the cost of thetrees) to do the planting.
How much does Stan's improvements to the cottage add to GDP thisyear?
The increase in GDP would be $
.
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