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20 November, 20:19

Suppose a consumer purchased a new television for $1000 2 years ago. Today, that person sold it in her garage sale for $200. How does this affect the current GDP.

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  1. 20 November, 22:49
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    It will not affect the current GDP at all. GDP is a measure of all newly produced goods and services during a year, so 2 years ago the TV's full value would have been included in the GDP, but the sale of the TV as a used good later on would not be counted.
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