Jim's Nursery produces and sells $1100 worth of flowers. Jim uses no intermediate inputs. He pays his workers $700 in wages, pays $100 in taxes and pays $200 in interest on a loan. Jim's contribution to GDP isA) $900.
B) $1000.
C) $1100.
D) $1800

GDP is the sum of all final goods and services produced in an economy over a given period of time. The GDP calculation takes into account only the final goods and services, not counting the intermediate imputs so that nothing is double counted. For example, in the breadmaking process, flour is accounted for by the flour supplier. The bread supplier should then account only for the value of the bread. In the case of flowers, there are no intermediate inputs. Thus, Jim's contribution to GDP is the total value of flowers sold, which is $ 1100.

abiolataiwo2015 abiolataiwo2015 · Answer 2 · 2022-03-10T11:03:56+01:00

Jim's contribution to GDP is: C) $1100.

What is gross domestic product?

Gross domestic product can be defined as the value or price of goods and service produce in a country.

Jim's contribution to gross domestic product will be the amount of $1100 reason being that Jim's Nursery produces and sells $1100 worth of flowers.

Inconclusion Jim's contribution to GDP is: C) $1100.

Learn more about GDP here:https://brainly.com/question/1383956

Jim's Nursery produces and sells $1100 worth of flowers. Jim uses no intermediate inputs. He pays his workers $700 in wages, pays $100 in taxes and pays $200 in interest on a loan. Jim's contribution to GDP isA) $900. B) $1000. C) $1100. D) $1800

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What is gross domestic product?

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Jim's Nursery produces and sells $1100 worth of flowers. Jim uses no intermediate inputs. He pays his workers $700 in wages, pays $100 in taxes and pays $200 in interest on a loan. Jim's contribution to GDP isA) $900.
B) $1000.
C) $1100.
D) $1800