2. Is the value of a house built in 2000 and resold in 2013 included in the GDP of 2013? Briefly explain. Would the services of the real estate agent who helped sell (or buy) the house in 2013 be counted in GDP for 2013? Briefly explain.
2. Is the value of a house built in 2000 and resold in 2013 included in the GDP of 2013? Briefly explain. Would the services of the real estate agent who helped sell (or buy) the house in 2013 be counted in GDP for 2013? Briefly explain.
Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter5: Measuring A Nation's Income
Section: Chapter Questions
Problem 2CQQ
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