Answer
c. \$80
Work Step by Step
The GDP measures the value of all goods produced (rather than sold) in a period. Both sweaters were produced at \$40 each, making the total GDP \$80.
Principles of Economics, 7th Edition
by Mankiw, N. Gregory
Published by
South-Western College
ISBN 10:
128516587X
ISBN 13:
978-1-28516-587-5
Chapter 23 - Part VIII - Measuring a Nation's Income - Quick Check Multiple Choice - Page 502: 2
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