Ask Question
BusinessBusiness
10 January, 06:54

Suppose a consumer purchased a new television for $1000 2 years ago. Today, that person sold it in her garage sale for $200. How does this affect the current GDP.

+3
Answers (1)
  1. 10 January, 06:59
    0
    It will not affect the current GDP at all. GDP is a measure of all newly produced goods and services during a year, so 2 years ago the TV's full value would have been included in the GDP, but the sale of the TV as a used good later on would not be counted.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Suppose a consumer purchased a new television for $1000 2 years ago. Today, that person sold it in her garage sale for $200. How does this ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
As a consultant to First Responder Inc., you have obtained the following data (dollars in millions). The company plans to pay out all of its earnings as dividends, hence g = 0.
Answers (1)
Baker traded a building used in her business for some new land. Baker originally purchased the building for $50,000 and it had an adjusted basis of $30,000 at the time of the exchange. The new land had a fair market value of $35,000.
Answers (1)
One hospital CEO insists on including performance data in the hospital's annual report. "We do very well on most measures, except for one or two, but we put those in anyway," she says. "We want to hold ourselves accountable.
Answers (1)
LO 4.3Is the cost of goods manufactured the same as the cost of goods sold?
Answers (1)
Clarksen company uses a process costing system. the company requisitioned $93,000 of materials for department a and $67,000 of materials for department d. the entry to record the use of the direct materials by these two departments is:
Answers (1)
New Questions in Business
Q 1.2: the question "how much of our annual budget should we spend to advertise our new product line?" would most likely be asked by a
Answers (1)
If you wanted to find and display a collection of data from a table on a regular weekly basis, what method would you be most likely to use? A. A form B. A field C. A query D. A report
Answers (1)
The equation represents Jordan's overtime pay structure. Based on this equation, what is Jordan's regular hourly pay?
Answers (2)
A concurrent condition occurs when each party's performance is conditioned on the performance of the other.
Answers (1)
Transactional leadership encompasses all but one of the following. Which one? A. Goal settingB. Social interactionC. Monitoring progress toward goal achievementD. Giving feedbackE. Administering discipline
Answers (1)
Home » Business » Suppose a consumer purchased a new television for $1000 2 years ago. Today, that person sold it in her garage sale for $200. How does this affect the current GDP.
Sign Up Forgot Password?