This year,Tom sold his 1998 minivan to Honest John's Used Car Emporium for $5,000.Honest John then sold the van to Bob for $7,000.How much would be recorded in GDP this year from these transactions?
A) $0
B) $2,000
C) $5,000
D) $7,000
E) $12,000
Correct Answer:
Verified
Q6: If we included the purchases of used
Q7: In 2008,the nominal GDP of the United
Q8: The sale of which of the following
Q9: When people buy land,their purchases are included
Q10: GDP measures the output produced within a
Q12: Which of the following is the best
Q13: Which of the following units is used
Q14: GDP is a flow variable because it
Q15: When measuring GDP,economists count only the values
Q16: The precise definition of GDP is the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents