Holly has recently graduated from college and has bought a house that was built 50 years ago for $100,000. She used a real estate agent to help her find and purchase the house, and the real estate agent received 5 percent of the value of the sale, or $5,000, to be paid by the seller of the house. The value of GDP in this case would
A) increase by $100,000.
B) increase by $95,000.
C) increase by $105,000.
D) increase by $5,000.
E) not be affected because the house was not produced in the current time period.
Correct Answer:
Verified
Q6: What was the approximate level of GDP
Q7: GDP is
A)a measure of the value of
Q8: The numbers one finds when one measures
Q9: GDP is a measure of
A)the total of
Q10: GDP can be calculated by adding the
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