What impact do you think that the movement of women from working in the household to working in the market has had on GDP? Why? Do you think that this points to a problem with GDP?
What will be an ideal response?
By moving to the market, women's work is now counted in GDP while it was excluded before. This does point to an important omission in GDP. However, household production has not been included in GDP because of the difficulty in finding prices for these activities.
Economics
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The more elastic the demand curve, a monopoly
A) will have a larger Lerner Index. B) will face a lower marginal cost. C) will earn more profit. D) will lose more sales as it raises its price.
Economics
Which of the following is not one of the four broad categories of resources?
A) labor B) government C) capital D) entrepreneurship E) land
Economics