How Is the Value of Housing Service Provided by the Economy's

question 103

Multiple Choice

How is the value of housing service provided by the economy's stock of houses included in GDP?

• A)It is not included in GDP since it is not sold on the market.
• B)It is counted and is valued as the mortgage payment made on the house.
• C)It is counted and uses only the purchase price of the house in the year it is sold.
• D)It is counted and is based on an estimate of its rental value.

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Definitions:

Institutional Authority

The power or right granted to institutions or organizations to direct actions or set policies within a societal framework.

Afterlife

Beliefs regarding a continuation of existence, typically in a spiritual or metaphysical realm, following the death of the physical body.

Door To Door

A method of selling products or services directly to customers at their homes or workplaces.

Promote Beliefs

The act of encouraging or advocating for certain ideologies, principles, or values to be accepted or adopted by a wider audience.