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Suppose an Apartment Complex Is Converted to an Owner Occupied

Question 10

Multiple Choice

Suppose an apartment complex is converted to an owner occupied condominium.Suppose that the estimated value of the condominium owners' housing services is now the same as their former rent.


A) GDP increases.
B) GDP decreases.
C) GDP is unaffected because neither the rent nor the estimate of the value of housing services is included in GDP.
D) None of the above.

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