(3 points) In the Canadian economy, there are a number of homemakers (a parent caring for a child, or looking after an elderly parent in the household). The homemaker provides valuable support and services but they are not officially compensated for this because there is no official labour market transaction. As the economics expert with the KAB Consulting team, you are asked to use the data provided below to answer the following questions. 1. In the context of GDP measurement, what is this referred to as? (1 mark) 2. Explain the impact on officially measured GDP? (2 marks)

In the Canadian economy, there are a number of homemakers (a parent caring for a child, or looking after an elderly parent in the household). The homemaker provides valuable support and services but they are not officially compensated for this because there is no official labour market transaction As the economics expert with the KAB Consulting team, you are asked to use the data provided below to answer the following questions. 1. In the context of GDP measurement, what is this referred to as? (1 mark) 2. Explain the impact on officially measured GDP? (2 marks)