Ross has a summer beach cottage that he has owned for many years. The cottage is valued at $100,000 .
Ross has a summer beach cottage that he has owned for many years. The cottage is valued at $100,000. This year, Ross spends $250 on paint and $600 on trees, and then paints the exterior of the cottage and plants the trees himself. If he had hired a professional painter, it would have cost $1,150 to paint the cottage (not including the cost of paint), and if he had hired a professional landscaper, it would have cost $450 (not including the cost of the trees) to do the planting.
How much does Ross’s improvements to the cottage add to GDP this year?
The increase in GDP would be $__________
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