2. Is the value of a house built in 2000 and resold in 2013 included in the GDP of 2013? Briefly explain. Would the services of the real estate agent who helped sell (or buy) the house in 2013 be counted in GDP for 2013? Briefly explain.

Brief Principles of Macroeconomics (MindTap Course List)
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Chapter5: Measuring A Nation's Income
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2. Is the value of a house built in 2000 and resold in 2013 included in the GDP of
2013? Briefly explain. Would the services of the real estate agent who helped
sell (or buy) the house in 2013 be counted in GDP for 2013? Briefly explain.
2
Transcribed Image Text:2. Is the value of a house built in 2000 and resold in 2013 included in the GDP of 2013? Briefly explain. Would the services of the real estate agent who helped sell (or buy) the house in 2013 be counted in GDP for 2013? Briefly explain. 2
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