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Acme Steel Co. produces 1,000 tons of steel. Steel sells for $30 per ton. Acme pays wages of $10,000. Acme buys $15,000 worth of coal, which is needed to produce the steel. Acme pays $2,000 in taxes. Acme's contribution to GDP is A. $30,000. B. $20,000. C. $45,000. D. $15,000.

Respuesta :

Answer:

Option (D) $15,000

Explanation:

Data provided in the question:

Steel produced by  Acme steels = 1,000 tons

Selling cost of steel = $30 per ton

Wages paid = $10,000

Market price of the coal bought = $15,000

Amount paid in taxes = $2,000

Now,

The contribution is made to the GDP when the goods is sold or purchased at market price.

Thus,

The transaction relating to the purchase of coal by Acme steels will contribute to GDP

Hence,

Acme steel co. contribution to the GDP = $15,000

Option (D) $15,000

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