You bought an old car a couple years ago for $2,000 and put about $6,000 of parts

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You bought an old car a couple years ago for $2,000 and put about $6,000 of parts and labour into improving it. You sold it yesterday for $4,000. How does this sale affect GDP?

Explain.

Learning Objective 9.2 Analyze GDP as a measure of total spending, output, and income.

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Principles Of Macroeconomics

ISBN: 9781982166649

1st Canadian Edition

Authors: Betsey Stevenson, Justin Wolfers, Philip Oreopoulos, Kevin Milligan

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Question Posted: Nov 13, 2024 03:01 AM

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You bought an old car a couple years ago for $2,000 and put about $6,000 of parts

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Principles Of Macroeconomics

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