Explain why the value of the GDP in 2018 would or would not change as a result of each transaction described below:
a.In 2018, the Smith family purchased a new house that was built in 2018.
b.In 2018, the Jones family purchased a house that was built in 2007.
c.In 2018, a construction company purchased windows to put in the Smith family home that was built in 2018.
d.In 2018, Mr. Jones painted all of the rooms of the Jones family house purchased in 2015, using paint and supplies purchased in 2018.
e.In 2018, Mr. Smith used an online brokerage service to purchases shares of stock in a construction company.
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q81: If the number of employed increases while
Q92: An estimate of the number of unemployed
Q93: Real GDP per capita is an imperfect
Q94: Exhibit: Totals Recorded for Canada
Q95: Assume that two countries have the same
Q96: Economists can calculate the Canadian unemployment rate
Q100: The Labour Force survey conducted by Statistics
Q101: "I like eating mangoes daily, but when
Q102: Into which of the three categories-employed, unemployed,
Q115: Sam wants a loan from Dean. While
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