Tobias, a classic car enthusiast in Phoenix, occasionally offers for sale one of his classic automobiles at
Question:
Tobias, a classic car enthusiast in Phoenix, occasionally offers for sale one of his classic automobiles at the Barrett-Jackson collector car auction in neighboring Scottsdale. In January 2016, Tobias put a 1929 Cadillac 341B in the auction, and it sold to a buyer in Riyadh, Saudi Arabia for $167,500. What part, if any, of this transaction will be included as a part of U.S. GDP in 2016?
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Since the car was built in 1929 its value will not be included ...View the full answer
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Related Book For 
Principles of Macroeconomics
ISBN: 978-0134078809
12th edition
Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster
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