In 2019, Mr. Francis paid $10m for a house that was built in 2019 and sold that year for $8m. What value will this transaction add to GDP in 2020?
In 2019, Mr. Francis paid $10m for a house that was built in 2019 and sold that year for $8m. What value will this transaction add to GDP in 2020?
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter7: Macroeconomic Measurements, Part Ii: Gdp And Real Gdp
Section7.4: Real Gdp
Problem 1ST
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In 2019, Mr. Francis paid $10m for a house that was built in 2019 and sold that year for $8m. What value will this transaction add to GDP in 2020?
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