GDP in 2011 Would Not Include the Resale of a House

question 164

True/False

GDP in 2011 would not include the resale of a house built in 2000.

---

Definitions:

Right to Cure

A legal principle that allows a party who has breached a contract to rectify the breach within a specified period to avoid further legal action or penalties.

UCC

The Uniform Commercial Code provides an exhaustive array of legislation to control commercial operations within the United States.

Substantially Impaired

Refers to significant damage or deterioration, often in the context of property or assets, affecting value or functionality.

Revoke Acceptance

The act of legally rejecting a previously accepted offer or product due to defects or contract breaches.