Question

You bought a popular video game last year for $75 and sold it to a store this year for $20. The store sells the used game to a consumer for $50. This adds _____ to GDP when the store sells the game to the consumer.

Answer 1

Answer:

$30

Explanation:

Data provided in the question

Purchase price of a popular video game purchased last year is $75

Now the selling price of a popular video game to the store this year is $20

And, the Selling price i.e charged by the store to the customer is $50

Based on the above information, the added amount to GDP is

= Selling price i.e charged by the store to the customer - selling price of a popular video game to the store this year

= $50 - $20

= $30

GDP refers to the finalized value of goods and services that are to be produced within the country.