Homework 3 Chapter 6 GDP CM Est. Length: 2:00:00Ebonia Bly: Attempt 3 4) differe

Question

Homework 3 Chapter 6 GDP CM Est. Length: 2:00:00Ebonia Bly: Attempt 3 4) different countries have different languages. Save Question 16 (1 point) John buys a kayak from Outdoor Supply Store. The kayak is 2 years old and was traded in by another customer. John pays $300. How is GDP affected? . 1) C increases by $200. 2) I increases by $200 3) C falls by $200. 4) GDP is not affected since the kayak is not new. Save Question 17 (1 point) B Nominal GDP in 1948 was $269.1 billion. Nominal GDP in 1949 was $267.02 billion. Which of the following is true based on this information?

Explanation / Answer

Ans:

16) Option 4

GDP is not affected since the kayak is not new.

GDP is the market value of final goods and services produced in the country during a specific period of time.Only new goods or services produced are considered in calculating GDP.

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