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A farmer sells five pounds of pecans to a Smith's Fresh Pecans for $10 Smith's Fresh Pecans resells are shelled and canned and sold for a total of three pounds for S4.50 per pound. The remaining pecans 00 Taking these transactions into account, how much is added to GDP? a. $22.50b. $29.50 c. $21.50 d. $31.50

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jepessoa

Answer:

$21.50

Explanation:

The gross domestic product includes the total production of  finished and legal goods and services in a country (usually during a one year period).

When the farmer sold the 5 pounds of pecans, he was selling intermediate goods (not included in the  GDP). Only Smith's Fresh Pecans are included in the GDP (final goods):

(3 pounds x $4.50) + $8 = $13.50 + $8 = $21.50

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