Homework Answers
Ans (b)
The consumption component (C) in GDP includes the puchase of newly produced goods and services(durable and non-durable both) in an economy.
Purchase of automobile is a cosumption of a durable good and will be included in the cosumption section of GDP.
Purchase of house is an investment and is thus included in the investment component of GDP.
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A stock concept has a time period
associated with it, whereas a flow concept is an amount of
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