Holly Has Recently Graduated from College and Has Bought a House

question 36

Multiple Choice

Holly has recently graduated from college and has bought a house that was built 50 years ago for $100,000. She used a real estate agent to help her find and purchase the house, and the real estate agent received 5 percent of the value of the sale, or $5,000, to be paid by the seller of the house. The value of GDP in this case would

• A)increase by $100,000.
• B)increase by $95,000.
• C)increase by $105,000.
• D)increase by $5,000.
• E)not be affected because the house was not produced in the current time period.

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Definitions:

Supply Of Water

The total volume of water available for use from natural sources, storage, and distribution systems to meet consumer demands.

Trading

The action of buying, selling, or exchanging goods and services within or across markets.

Cooperation

The process of groups working or acting together for their common/mutual benefit, as opposed to working in competition for selfish benefit.

Natural Gas Prices

The cost for consumers to purchase natural gas, which fluctuates based on factors like supply, demand, weather conditions, and geopolitical events.