Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If I buy a house in the same year it was built. Is this counted in GDP? and what component of GDP is it counted

If I buy a house in the same year it was built. Is this counted in GDP? and what component of GDP is it counted as? If not why is this not counted in GDP?

For example, If I buy a house, which was built in 2021, in 2021, is this counted in GDP or not?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Basic Econometrics

Authors: Damodar N. Gujrati, Dawn C. Porter

5th edition

73375772, 73375779, 978-0073375779

More Books

Students also viewed these Economics questions

Question

list Key point about Martin Luther King Junior Speech.

Answered: 1 week ago

Question

2. It is the results achieved that are important.

Answered: 1 week ago

Question

7. One or other combination of 16.

Answered: 1 week ago