Rita cooked a meal for her family which is worth $100 in the nearest eatery. What will be the impact of this activity on the calculation of GDP? Explain your answer
What will be an ideal response?
This activity will not affect the calculation of GDP since home production is excluded from the calculation of GDP. However, the value of the groceries she needs to cook the meal will be included in the calculation of GDP.
Economics
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Which of the following is not an example of a welfare program?
a. Supplemental Security Income (SSI) b. Temporary Assistance for Needy Families (TANF) c. food stamps d. minimum wage laws
Economics
To meet its obligations, the federal government must consider four alternatives: ________ income taxes ________ Social Security taxes ________ Social Security benefits ________ federal government discretionary spending
Fill in the blank(s) with the appropriate word(s).
Economics