Economcis

posted by .

Is GDP calculated by the price of the good with the indirect tax or the price of the good before the indirect tax?

For example, if an economy only produces a single $10 good and it is taxed 10%, is GDP $10 or 11$?

Thanks!!!

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Sales tax

    tom paid 695.5 for a tv when 7% sales tax was included in that price what was the price of the tv before the tax and how much sales tax did tom pay?
  2. Microeconomics

    This is a 5 part question; (a-e)The question reads: Suppose that a market is described by the following supply & demand equations: Qs=2P & Qd=300-P a) Solve for the equalibrium price & quantity. (I think I understand this process.) …
  3. Economic

    The market for Good X can be depicted with the following demand and supply equations: Demand: P = 50 – 1/2Q Supply: P = 1/3Q Where P is price per unit and Q represents quantity in units. Policy makers plan on imposing a $1 per unit …
  4. Macroeconomics

    How do you calculate the nominal GDP and the real GDP of something?
  5. macroeconomics

    23. The next four questions refer to the following price and output data over a five-year period for an economy that produces only one good. Assume that year 2 is the base year. Units of Price Year output per unit 1 16 $2 2 20 3 3 …
  6. Economics

    The long-run supply curve for a good is a horizontal line at a price $3 per unit of the good. The demand curve for the good is QD = 50-2P. (a) What is the equilibrium output of the good?
  7. Economics

    The long-run supply curve for a good is a horizontal line at a price $3 per unit of the good. The demand curve for the good is QD = 50-2P. (a) What is the equilibrium output of the good?
  8. College economics

    The long-run supply curve for a good is a horizontal line at a price $3 per unit of the good. The demand curve for the good is QD = 50-2P. (a) What is the equilibrium output of the good?
  9. economics

    If the government imposes a quantity tax on the consumption of a good, it means that the consumer has to pay for each unit of the good its price plus the tax. For example, if the price of a chocolate bar is $5 and the government imposes …
  10. Economics

    17. The current price for a good is $20, and 100 units are demanded at that price. The price elasticity of demand for the good is -1. When the price of the good drops by 10% to $18, consumer surplus: Increases or decreases by $__?

More Similar Questions