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Levels Tought:
Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 398 Weeks Ago, 2 Days Ago |
| Questions Answered: | 66690 |
| Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
A mechanic builds an engine and then sells it to a customized body shop for $7,000. The body shop installs the engine in the car and resells it to a dealer for $20,000. The dealer then sells the finished vehicle for $35,000. A consumer drives off with the car. By how much does GDP increase? What is the value added at each step of the production process? How does the total value added compare with the amount by which GDP increased?
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