Question

Suppose a house is built and sold in the year 2008. If the house is resold in the year​ 2019, is the value of the house included in Gross Domestic ProductSuppose a house is built and sold in the year 2008. If the house is resold in the year​ 2019, is the value of the house included in Gross Domestic Product for 2019?

Answer 1

No. GDP for 2019 includes only production that occurs during 2019. The Gross domestic products (GDP) is an economic measure of the market value of all the final goods and services produced (in this case) in 2019.