Incorrect Question 2
0/1 pts
Phillip is a real estate investor. He flips homes: He buys undervalued homes and sells
them at a higher price later to make a profit out of the price difference (these kind of
people are called flippers). He does not do any repairs to the houses he buys. In May
2020 he bought a house built in 1997 for $1,300,000 and sold it two months later for
$1,500,000. Not bad.! The real estate agent got 6% of the sale price as her commission.
As a result of these transactions, the 2020 GDP increased by
90000
dollars.
Answer 1:
90000