a homeowner sells a kitchen table and chairs that she no longer wants to use and does not report the income earned from the sale to the internal Revenue Service, the value of COP a Onderstated became this transaction took place in the underground economy Obmaffected by this transaction because the table and chairs wwe alsady counted in GDP as final goods when the homeowner bought the new Ocventated because the sale of the furniture is counted twice in GDP calculations Od understated became this purchase was a sonmarket transaction
a homeowner sells a kitchen table and chairs that she no longer wants to use and does not report the income earned from the sale to the internal Revenue Service, the value of COP a Onderstated became this transaction took place in the underground economy Obmaffected by this transaction because the table and chairs wwe alsady counted in GDP as final goods when the homeowner bought the new Ocventated because the sale of the furniture is counted twice in GDP calculations Od understated became this purchase was a sonmarket transaction
Chapter19: Measuring Economic Performance
Section: Chapter Questions
Problem 1P
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