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Q: What contributes more to GDP building a 10-bedroom mansion or building a 3-bedroom house?
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What contributes more to GDP building a 10 bedroom mansion or 3 bedroom home?

A new home that is built during a given year is counted in that year's GDP, while the purchase of a preowned house has already been counted in the GDP of the year it was constructed. A larger home would contribute more because more money is invested. Source: ChaCha.com


How much would a mansion cost in 1930?

The cost of a mansion in 1930 would greatly vary. It would depend upon the actual value of the home, the location of the home, and how big the house actually was.


How much did a house cost in 1969?

My father bought a brand new 4 bdr rambler for $16K in the year 1967 while in TX. It was on a typical 1/4 acre lot in a large subdivision. That price will not buy a car today. Three elements pertained then as they do now - location, location, location. Architecture and square footage play a large part as well. You could most likely had a mansion custom built for $100K on the Outer Banks of NC.


What is the importance of economics in engineering?

Civil engineering focuses on providing basic amenities to the public. Without considering economics, there are very few limits on the scale of what could be undertaken (a 10-bedroom mansion vs. a 1-bedroom cottage). Taking economic restrictions into account, it is the duty of Civil Engineers to balance the opposing forces of cost and product. Beyond this, as in any industry, if your competetor can provide more for less, assuming comparable quality, they will get the work.


What could you buy for a dollar in 1880?

According to the Consumer Price Index Inflation Calculator, one dollar in 1930 had the same buying power that $13.50 has in 2011. So whatever you can get for thirteen and a half bucks today, was about a dollar in 1930.

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