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Value Added Method for Measuring GDP
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Value Added Method for Measuring GDP
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11. Gross Domestic Product (GDP) and Consumer Price Index (CPI) / Value Added Method for Measuring GDP / Problem 1
Problem 1
A car manufacturer buys steel for \$500, processes it into car parts for \$1000, and sells the final car for \$2000. What is the total value added?
A
\$500
B
\$1000
C
\$1500
D
\$2000
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