Multiple Choice
Louis always knits ten sweaters a year to give as birthday gifts to his nephews.One year,instead of giving the sweaters as gifts,he sells them to a local store for $50 each; his nephews receive no gifts.What is the effect on GDP?
A) GDP increases
B) GDP decreases
C) there is no change in GDP
D) GDP increases only if the $50 sweaters are comparable to store-bought sweaters
E) GDP increases only if the $50 price is less than the cost of materials
Correct Answer:
Verified
Correct Answer:
Verified
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