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17. Suppose a minor harvest a ton of iron ore, and Iron smelter turns the iron...

17. Suppose a minor harvest a ton of iron ore, and Iron smelter turns the iron ore into steel, and the car manufacturer turn the seal into a car that is the minor at a value of $1000, the Iron smelter sells the steel for $3500, and the common factor sells the car for $9000, how much has been to GDP ?

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Answer #1

GDP only includes the value of the final good and excludes the vale of the intermediate goods

Value of final good which is car = 9000

so, $9000 has been added to GDP

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