Why might a homemaker be upset with the way Gross Domestic Product (GDP) is calculated?
A. because household services produced at home and outside the market are only included in Gross Domestic Product (GDP) if the homemaker is a man
B. because household services produced at home and outside the market that are sold to others are not included in Gross Domestic Product (GDP)
C. because none of the household services produced for at home and outside the market are included in Gross Domestic Product (GDP) even though they contribute greatly to the welfare of the family
D. because the government always underestimates the dollar value of the household services produced at home and outside the market that are included in the Gross Domestic Product (GDP) statistic
Answer: C
You might also like to view...
The above figure shows the market for a particular good. If the market is controlled by a perfect-price-discriminating monopoly, the deadweight loss equals
A) C + E. B) A + B + C. C) C. D) zero.
Most economists agree that ________ are the single most important source of productivity improvements.
A. increases in physical capital B. increases in human capital C. technological advances D. discoveries of natural resources