Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN: 9781947172364
Author: Steven A. Greenlaw; David Shapiro
Publisher: OpenStax
Bartleby Related Questions Icon

Related questions

Question
need help on filling these two charts
veyla curi
Part VI. Missing from GDP
COSCO
GDP
doesn't
tell us..
Part VII. Factors Affecting Population Growth
ET
Factors
affecting
Population
Growth
expand button
Transcribed Image Text:veyla curi Part VI. Missing from GDP COSCO GDP doesn't tell us.. Part VII. Factors Affecting Population Growth ET Factors affecting Population Growth
Expert Solution
Check Mark
Step 1

GDP doesn't tell us : 

  • The non-market transactions: The non-market transactions such as household chores done by the homemaker or the leisure time activities such as gardening etc are not included in the measurement of GDP. 
  • The sustainability of growth : The GDP only tells the growth rate but does not tell if the growth rate is sustainable with the growing population or not. 
  • Degree of inequality : The GDP only tells us the rate of growth in the economy but does not show the inequality of income prevailing in the economy.
  • Externalities : The externalities are the benefits or harm to the society due to the activities for which they are not paid or penalised. They are not included in the measurement of GDP. 
Knowledge Booster
Background pattern image
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
Principles of Economics 2e
Economics
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:OpenStax
Text book image
Essentials of Economics (MindTap Course List)
Economics
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Text book image
Brief Principles of Macroeconomics (MindTap Cours...
Economics
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:Cengage Learning
Text book image
ECON MACRO
Economics
ISBN:9781337000529
Author:William A. McEachern
Publisher:Cengage Learning