Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1) Answer the following as true, false, or uncertain and justify your answers. 3) Even a totally export-oriented county can only sell what it produces;
1) Answer the following as true, false, or uncertain and justify your answers. 3) Even a totally export-oriented county can only sell what it produces; so exports must always be less than or equal to GDP. b) Middle-class families used to have a stay-at-home spouse who cooked and cleaned; now they are likely to have two working adults but go out to eat and hire a cleaning service. The result is a larger GDP, but not necessarily higher true output. c) The growing importance of outsourcing in which companies pay other companies to perform services such as cleaning, bookkeeping, and so on - increases measured GDP. d) Official measures of GDP understate true growth because they fail to take account of the rising importance of technological improvements in the economy
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started