Until Recently, George Lived in a Home That Was Newly

question 30

Multiple Choice

Until recently, George lived in a home that was newly constructed in 2005. In 2005, he paid $200,000 for the brand new house. He sold the house in 2006 for $225,000. Which of the following statements is correct regarding the sale of the house?

• A) The 2006 sale increased 2006 GDP by $225,000 and had no effect on 2005 GDP.
• B) The 2006 sale increased 2006 GDP by $25,000 and had no effect on 2005 GDP.
• C) The 2006 sale increased 2006 GDP by $225,000; furthermore, the 2006 sale caused 2005 GDP to be revised upward by $25,000.
• D) The 2006 sale affected neither 2005 GDP nor 2006 GDP.

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Definitions:

Equal Halves

Dividing something into two portions of the same size and proportion.

Reproductive Cell Division

A biological process, such as meiosis, through which cells divide to produce gametes for sexual reproduction.

Nerve Tissue Cells

Cells that make up the nervous tissue, including neurons and glial cells, responsible for transmitting and processing information in the body.

Tissue Types

The four basic types of tissue in the body, including epithelial, connective, muscle, and nervous tissues.