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Detailed Explanation of GDP Components
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Problem 1
Problem 2
Problem 3
Problem 4
Problem 5
Problem 6
Problem 7
Problem 8
Problem 9
Problem 10
Detailed Explanation of GDP Components
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10. Measuring National Output and Income / Detailed Explanation of GDP Components / Problem 7
Problem 7
A household hires a tutor for their child. How is this transaction classified in GDP?
A
As a service
B
As a durable good
C
As a non-durable good
D
As an investment
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