Suppose a house is built and sold in the year 2000. if the house is resold in the year 2009, is the value of the house included in gross domestic (gdp) for 2009?
a. no. gdp for 2009 includes only production that occurs during 2009.
b. yes. the value of the house is included in gross private domestic investment for 2009.
c. yes. the value of the house is included in personal consumption expenditures for 2009.
d. no. gdp for 2009 includes only the market value of final goods. a house resold in 2009 is an intermediate good.
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