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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Principles Of Economics

ISBN: 9781319330156,9781319419769

2nd Edition

Authors: Betsey Stevenson, Justin Wolfers

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Question Posted: Feb 20, 2024 01:01 AM

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You bought an old car a couple years ago for $1,000 and put about $5,000 of parts

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The sale of the car affects GDP in two ways 1 Consumption The initial purchase ...View the full answer

Principles Of Economics

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