A wealthy stamp collector recently sold a rare stamp for $80,000 that he purchased two years earlier for only $10,000.What impact will this transaction have on GDP?

Question

Quizplus · Accepted Answer

The transaction of selling a rare stamp in a secondary market is not considered as a part of GDP calculation because it does not involve any production or income generated in the economy during the current year. Therefore, there is no change in GDP due to this transaction.

A Wealthy Stamp Collector Recently Sold a Rare Stamp for $80,000