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liraira [26]
3 years ago
10

In the year, 2005 Janice Quinn sells a five-year-old car to Used Car, Inc. for $3,000. In the same year, Used Car, Inc. resells

the car to Ima Goner for $3,500. What is the contribution of this transaction to GDP in the year 2005
Business
1 answer:
Fittoniya [83]3 years ago
5 0

Answer:

$500

Explanation:

The computation is shown below:

Data provided in the question

Sale value of five year old car to used car = $3,000

Now in the same year, the resales value to Ima Goner = $3,500

So, the contribution made in the GDP for the year 2005 is

= Resales value to Ima Goner - Sale value of five year old car to used car

= $3,500 - $3,000

= $500

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Answer:

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Answer:

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Explanation to Question 2 can be found in the attached picture

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