Explain Why the Value of GDP in 2009 Would or Would

question 4

Essay

Explain why the value of GDP in 2009 would or would not change as a result of each transaction described below:
a. In 2009, the Smith family purchases a new house that was built in 2009. b. In 2009, the Jones family purchases a house that was built in 2001.
c. In 2009, a construction company purchases windows to put in the Smith family home that was built in 2009.
d. In 2009, Mr. Jones paints all of the rooms of the Jones family house purchased in 2009.
e. In 2009, Mr. Smith uses an online brokerage service to purchase shares of stock in a construction company.

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Definitions:

Showrooming

The consumer practice of examining products in a brick-and-mortar retail store without purchasing them there, then buying the product online at a lower price.

Consumer Electronics

Electrical devices intended for everyday use by individuals, such as smartphones, televisions, and laptops.

Cross-channel Shopping

The behavior of consumers who research products, compare prices, and make purchases across multiple retail channels, including online and offline.

Auction Site

A website where goods or services are sold to the highest bidder through a competitive bidding process.