Answered: If your grandparents buy a new…

If your grandparents buy a new retirement home, this transaction would be counted in what component of GDP? Consumption Investment Government purchases None of the above.

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter5: Measuring A Nation's Income

Section: Chapter Questions

Problem 5CQQ

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Question

3. If your grandparents buy a new retirement home, this transaction would be counted in what component of GDP?

Consumption
Investment
Government purchases
None of the above.

Definition Video Definition Overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period. Video

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