Four hundred tires are produced by a tire manufacturer and sold for $75 each to General Motors

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Four hundred tires are produced by a tire manufacturer and sold for $75 each to General Motors in December 2010. In February 2011, General Motors puts the tires on 100 newly produced cars and sells each car for $30,000. What is the contribution made to GDP in 2010 and 2011 by the transaction described? (Assume all other components of the cars are produced in 2011.)
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Macroeconomics

ISBN: 978-0138014919

12th edition

Authors: Robert J Gordon

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