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A Texas household receives a Social Security check for $1500, which it uses to purchase a $40 pair of shoes made in Thailand by a Thai firm, a $1240 television made by a Korean firm in Korea, and $220 on groceries from a local store. As a result, U. S. GDP a. increases by $220. b. increases by $280.
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Oswald purchased land for $48,000 and paid an additional $2,000 to install parking space. the entry to record the payment for the parking space is:
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