You bought an old car a couple years ago for $1,000 and put about $5,000 of parts
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You bought an old car a couple years ago for $1,000 and put about $5,000 of parts and labor into improving it. You sold it yesterday for $3,000. How does this sale affect GDP? Explain.
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The sale of the car affects GDP in two ways 1 Consumption The initial purchase ...View the full answer
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Related Book For
Principles Of Economics
ISBN: 9781319330156,9781319419769
2nd Edition
Authors: Betsey Stevenson, Justin Wolfers
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