Home production, such as cooking food at home, does not count towards GDP. What do you expect happens to home production during recessions and what is the effect on measured GDP?

Q: diffrenciate between Nominal and real GDP.

A: In economics, gross domestic product (GDP) is one of the economic tools that is used to determine…

Q: What are the difference between Nominal GDP and Real GDP? Why do economists use Real GDP rather than…

A: Answer -  Need to find- Difference between Nominal GDP and Real GDP and  Why do economists use Real…

Q: Many financial analysts use GDP as a measure of the economy's performance. However, GDP has several…

A: The GDP is the summation of the money value of all the final goods and services produced within the…

Q: You have learned about the different ways to measure GDP. Match the types of data with either…

A: 1) Demand Side Method:The demand side method focuses on measuring the total spending or demand for…

Q: Why is GDP (whether nominal or real) almost certainly an incomplete picture of how well an economy…

A: Nominal GDP is the value of goods and services produced in an economy in a year, measured at the…

Q: rom March 2003 until October 2007 the S & P stock index, a broad measure of stock market prices,…

A: The interest rate impacts inflation by implication by means of homegrown interest for labour and…

Q: Is the underground economy included in GDP?

A: Underground economy or shadow economy is the economy working under the government system that is not…

Q: Write the difference between Nominal GDP and real GDP.

A: The nominal gross domestic product (GDP) measures the monetary value of all goods and services…

Q: Which of the following would increase the consumption component of U.S. GDP? Select one: OA. A Baton…

A: GDP refers to the gross domestic product that refers to the monetary value of all final goods and…

Q: What is natural GDP

A: GDP(gross domestic product): It is the sum of all the final goods and services that are produced in…

Q: Mostly people argued that  GDP is not a better measure of  economic well-being. Explain.

A: Economic well-being is the degree of contentment or happiness that people or a society as a whole…

Q: The 2010 Deep Water Horizon oil spill in the Gulf of Mexico caused the tourism industry to lose $2…

A: Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and…

Q: Why the components of GDP exhibit behaviors much different than GDP itself?

A: Gross Domestic Product refers to the sum total of the goods and services produced in the economy…

Q: Discuss some of the reasons why economists should not consider GDP an effective measure of the…

A: Answer -

Q: Why does the investment components of GDP includes purchase of new capital goods but no purchase of…

A: GDP measures the final value of all goods and services that are produced within the domestic…

Q: Are there problems with GDP that should be fixed?

A: GDP is widely used concept to major economy health GDP is total of aggregate production of goods and…

Q: What is the contribution to 2020 U.S. GDP in the following scenario? A Michigan family takes a trip…

A: Gross Domestic Product is the total value of goods and services are Produced in the country's…

Q: What is GDP, and why is it a useful measure? What are the most importantcomponents of GDP in the…

A: Domestic income is the total of factors incomes generated within a country during an accounting…

Q: Saved Intermediate goods, which are goods that go into the production of other goods, are directly…

A: Answer to the question is as follows:

Q: does a household purchase of a home built in 1985 affect GDP?

A: The Gross Domestic product (GDP) measures the market value of all the final goods and services…

Q: Suppose that a large portion of the fourth quarter increase in production ends up sitting on shelves…

A: Unsold Inventory means the goods that are produced by a firm but have not been sold in the market…

Q: Which of the following would increase the consumption component of U.S. GDP? Select one: OA. A Baton…

A: GDP refers to the gross domestic product that refers to the monetary value of all final goods and…

Q: What is the difference between GDP and GNP? Is one a better measure of income/output than the other?

A: Gross domestic product is the sum of all the dollars produced in an economy over a given time period…

Q: Why are there two measures of GDP.

A: The gross domestic product (GDP) is that the most commonly used indicator of an economy's size…

Q: Please explain the relationships between interest rates, expected rates of return, investment, and…

A: The interest rate is the amount of interest charged by the lender on the borrower. Those who takes…

Q: What is GDP in econimic terms?

A: The Gross Domestic Product (GDP) is the standard measure of value-added produced during a certain…

Q: The investment category of GDP measures three different types of expenditures. What are they? Why is…

A: Expenditure applies to payments made for commodities or services or to obligations accrued in return…

Q: How will you differentiate nominal GDP from real GDP?  Which one (nominal or real) do you consider…

A: Every country focuses on its economic growth. Each country runs on its production, investment, and…

Q: Explain the merits, and why we would expect to see a correlation between GDP and well-being.

A: The standard measurement of the value added produced via the production of goods and services in a…

Q: Years ago, Ricky paid $500 for CDs to put together a collection. Today, he sold hisCDs for $200. How…

A: The objective of the question is to understand how the sale of previously purchased goods affects…

Q: han it was 60 years ago. What does this tell us about the well-being of U.S. residents?

A: Gross Domestic Product is considered to be a good and reasonable measure for measuring the well…

Q: Consider each of the following items. Should it be counted as part of U.S. GDP? If so, in which…

A: GIVEN   Consider each of the following items. Should it be counted as part of U.S. GDP

Q: Is GDP a main indicator of a country's economic well-being? Why and why not?

A: Gross domestic product is the money value of all final goods and services produced by normal…