Author Question: If you sell your textbook to your friend this year, does the sale count in this year's GDP? What ... (Read 56 times)

folubunmi · **on:** Jun 29, 2018

If you sell your textbook to your friend this year, does the sale count in this year's GDP?

What will be an ideal response?

Question 2

A wholesale flower market is an example of ________.

A) perfect competition
B) monopolistic competition
C) monopoly
D) oligopoly

sokh · **Reply #1 on:** Jun 29, 2018

Answer to Question 1

No, the sale would not count in this year's GDP because it is the sale of a used item. The sale of used items is not counted in GDP because GDP measures goods and services produced within a specified time frame. Unless your textbook was produced in this year, it will not count in this year's GDP. And, even if was produced this year, it has already been included in this year's GDP when it was initially sold as a new textbook.

Answer to Question 2

A