The Patersons Bought a Home That Was Newly Constructed in 2007

question 259

Multiple Choice

The Patersons bought a home that was newly constructed in 2007 for $275,000. They sold the home in 2009 for $205,000. Which of the following statements is correct regarding the sale of the house?

• A)The 2009 sale increased 2009 GDP by $205,000 and had no effect on 2007 GDP.
• B)The 2009 sale reduced 2009 GDP by $70,000 and had no effect on 2007 GDP.
• C)The 2009 sale increased 2009 GDP by $205,000; and caused 2007 GDP to be revised downward by $70,000.
• D)The 2009 sale affected neither 2007 GDP nor 2009 GDP.

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Definitions:

Referral Source

An individual, organization, or system that directs or sends someone to another source for assistance, services, or support.

Motivation

The process that initiates, guides, and maintains goal-oriented behaviors.

Necessary Skills

Essential abilities or competencies required to perform a specific task or job effectively.

Time-Limited Groups

Groups organized to exist or function for a specific, predetermined period.