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Are Sales of Used Goods Included in GDP? Explain Why

question 108

Essay

Are sales of used goods included in GDP? Explain why or why not. Hint: Remember how GDP is defined.


Definitions:

Correspondence Inference Theory

A psychological theory that explains how and why people draw inferences about the dispositional attributes of others based on observed behavior and its consequences.

Self-Serving Bias

Tendency to perceive our own behavior as more positive than others’ behavior.

Fundamental Attribution Error

Error that arises from attributing another person’s behavior to internal, controllable causes rather than to external, uncontrollable causes.

Stereotype

To place a person or group of persons into an inflexible, all-encompassing category.

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