« previous next »

Author Question: Why is GDP only an imperfect valid measure of the value of output produced by an economy? What ... (Read 93 times)

fahad

  • Hero Member
  • *****
  • Posts: 570
on: Jun 30, 2018
Why is GDP only an imperfect valid measure of the value of output produced by an economy?
 
  What will be an ideal response?

Question 2

The fraction of additional income spent on imports is called the marginal propensity to import.
 
  Indicate whether the statement is true or false
Macroeconomics: Principles, Applications and Tools ¦ O'Sullivan, Sheffrin, Perez ¦ 7th Edition
Buy Test-Bank


amandalm

  • Sr. Member
  • ****
  • Posts: 306
Reply #1 on: Jun 30, 2018
Answer to Question 1

GDP will miss transactions that do not take place in organized markets, does not include leisure time, and ignores the underground economy. In addition, GDP does not value changes in the environment that arise through the production of output.

Answer to Question 2

TRUE


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

For pediatric patients, intravenous fluids are the most commonly cited products involved in medication errors that are reported to the USP.

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

Did you know?

Most women experience menopause in their 50s. However, in 1994, an Italian woman gave birth to a baby boy when she was 61 years old.

Did you know?

The FDA recognizes 118 routes of administration.

Did you know?

Each year in the United States, there are approximately six million pregnancies. This means that at any one time, about 4% of women in the United States are pregnant.

Recombinants are meiotic output different from meiotic input Recombinants are meiotic output different from meiotic input
Performing a Spirometry Test to Measure Forced Vital Capacity Performing a Spirometry Test to Measure Forced Vital Capacity
Thread pitch gauge used to measure the pitch of the thread. This bolt has 13 threads to the inch. Thread pitch gauge used to measure the pitch of the thread. This bolt has 13 threads to the inch.
To measure engine oil pressure, remove the oil pressure sending (sender) unit usually located near ... To measure engine oil pressure, remove the oil pressure sending (sender) unit usually located near ...
Photochemical smog is produced by a complex series of reactions Photochemical smog is produced by a complex series of reactions
During a period of high power demand, the voltage output of the power company is reduced by ... During a period of high power demand, the voltage output of the power company is reduced by ...
Video: Cardiac Cycle (Part 2 of 4)

For a complete list of videos, visit our video library