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Econ 202 Fall 2011 Homework #1 1 Consider two cars manufactured by Chevrolet in 2007 During 2007 Chevrolet sells one of the two cars to Sean for me year Sean sells the

Econ 202 – Fall 2011 – Homework #1 1. Consider two cars manufactured by Chevrolet in 2007. During 2007, Chevrolet sells one of the two cars to Sean for $24,000. Later in the same year, Sean sells the car to Kati for $19,000. The second automobile, with a market value of $30,000, is unsold at the end of 2007 and it remains in Chevrolet’s inventory. What is the total change in GDP and how is that change distributed across the affected components (C, I, G, and NX)? 2.

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