Tom and Lilly rented a house for $12,000 last year. At the start of the year they bought the house they had been renting directly from the owner for $250,000. They believe they could rent it for $12,000 this year, but stay in the house. How much does Tom and Lilly's decision to buy the house change GDP? a. it reduces GDP by $12,000 b. it raises GDP by $250,000 c. it does not change GDP d. it raises GDP by $238,000
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