In 2002, the Johnsons buy a home from the Black family for $175,000. The house was built in 1985 by the Black family for $90,000. What is the impact of this sale on GDP for 2002 ? Assume no realtor is involved in the sale.
A. GDP in 2002 rises by $175,000
B. GDP in 2002 rises by $90,000
C. GDP in 2002 rises by $85,000
D. GDP in 2002 does not change
A. GDP in 2002 rises by $175,000
B. GDP in 2002 rises by $90,000
C. GDP in 2002 rises by $85,000
D. GDP in 2002 does not change