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Recall the definition of gdp

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  1. Recall the definition of GDP. Determine whether the following items are included in this year's GDP, and briefly explain why.
  2. The baker purchases flours from the miller for $300 to make bread.
  3. A man collects social security.
  4. You are informed that you have won $3,000,000 in the New Jersy state lottery, to be paid to you in total immediately
  5. Hertz, the car rental company, replaces its cars by buying $100,000,000 worth of the new cars from General motors. It sells its old cars for used-car dealers for $40,000,000. The consortium resells the used cars to the public for a total of $60,000,000.

Reference no: EM131868568

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