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Suppose in 2014,you purchase a house built in 2003.Which of the following would be included in the gross domestic product for 2014?
Effective Annual Interest Rate
The actual return on an investment or the real cost of a loan, accounting for the compounding of interest over a year.
Line of Credit
A financial arrangement providing the borrower the right to draw funds up to a specified limit at any time within a fixed period.
Compensating Balance
A minimum account balance that a borrower is required to maintain as a condition of borrowing from a lender, often used to offset the cost of maintaining the loan.
Accounts Payable Period
The average time it takes for a company to pay off its suppliers.
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