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3. Maryam bought a house for $1 million in 2021. This house is valued at $1.5 million in 2022. a. How will this transaction affect

3. Maryam bought a house for $1 million in 2021. This house is valued at $1.5 million in 2022.

a. How will this transaction affect the GDP in 2021 and the GDP in 2022? Explain in detail. (5 marks)

b. Explain in detail the effect on Maryam's consumption decisions in 2021 and in 2022? (5 marks)

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