Facebooks WhatsApp is free and it sells no advertising. So WhatsApps value of production in GDP is
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Facebook’s WhatsApp is free and it sells no advertising. So WhatsApp’s value of production in GDP is zero. Assume that WhatsApp’s services are produced by 300 people all of whom earn $100,000 a year. By this measure, WhatsApp’s value of production in GDP is $30 million.
What are the two approaches to measuring GDP described in the news clip? Why is one of these measures of the contribution of WhatsApp to GDP wrong?
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The two approaches to measuring GDP are the expenditure approach and the i...View the full answer
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