Suppose in 2014,you Purchase a House Built in 2003

question 234

Multiple Choice

Suppose in 2014,you purchase a house built in 2003.Which of the following would be included in the gross domestic product for 2014?

• A)the value of the house in 2014
• B)the value of the house in 2003
• C)the value of the house in 2014 minus depreciation
• D)the value of the services of the real estate agent

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Definitions:

Ethical

Pertaining to or dealing with morals or the principles of morality; pertaining to right and wrong in conduct.

Natural Experiments

Research designs that involve observing the effects of naturally occurring variables or events, as opposed to manipulations made by the researcher.

Quasi-experiments

Research designs that attempt to establish cause-and-effect relationships but lack the element of random assignment to treatment or control groups.

External Validity

The extent to which the results of a study can be generalized or applied to contexts outside of the experimental conditions.