The table shows a series of market transactions in the life of an automobile.Describe two different ways that these transactions could contribute to gross domestic product (GDP)for the years 2017 and 2018.Which way is used in practice?
Definitions:
Mutually Exclusive
Mutually exclusive events are those that cannot occur simultaneously; the occurrence of one event excludes the possibility of the other.
Financial Consultants
Professionals who provide expert advice on matters related to finance, including investments, tax planning, and retirement strategies.
Conditional Probability
The likelihood of one event happening when it is known that a second event has taken place already.
Union
In set theory, the combination of two sets to form a set that includes any elements that are a member of at least one of the original sets.
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