Question

Tyler and Camille both live in Oklahoma. A new-car dealer in Oklahoma bought a new car from the manufacturer for $17,000 and sold it to Tyler for $20,000. Later that year, Tyler sold the car to Camille for $15,000. By how much did these transactions contribute to U.S. GDP for the year

Answer 1

Answer:

$20,000

Explanation:

Given that

New car bought from the manufacturer = $17,000

Sale value of the new car = $20,000

And, the car is sold to Camille for $15,000

So by considering the above information, the amount i.e to be contributed to U.S GDP is

= Sale value of the new car

= $20,000

It represents the finalized value of the goods and services and the same is to be considered