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1) Answer the following as true, false, or uncertain and justify your answers. 3) bl dl Even a totally exportoriented county can only sell what
1) Answer the following as true, false, or uncertain and justify your answers. 3) bl dl Even a totally exportoriented county can only sell what it produces; 50 exports must always be less than or equal to GDP. 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. The growing importance of outsourcing in which companies pay other companies to perform services such as cleaning, bookkeeping, and so on - increases measured GDP. Official measures of GDP understate true growth because they fail to take account of the rising importance of technological improvements in the economy
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