Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

5. Limitations of GDP Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transactions and production for

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
5. Limitations of GDP Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transactions and production for that nation. Which of the following scenarios are either not accounted for or measured inaccurately by either the income or the expenditure methods of calculating GDP for Canada? Check all that apply. The costs of overfishing and other overly intensive uses of resources Federal highway payments The value of baby-sitting services, when the baby sitter is paid in cash and the transaction isn't reported to the government The quality of goods available to consumers When a Canadian company purchases and imports electronic parts from China to use to produce MP3 players, within Canada, this purchase increases the component of GDP, while also net exports by the same amount. Therefore, the purchase of electronic parts from China causes in Canadian GDP.5. Limitations of GDP Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transactions and production for that nation. Which of the following scenarios are either not accounted for or measured inaccurately by either the income or the expenditure methods of calculating GDP for Canada? Check all that apply. The costs of overfishing and other overly intensive uses of resources O Federal highway payments tting services, when the baby sitter is paid in cash and the transaction isn't reported to the government government purchases consumption available to consumers investment Whe chases and imports electronic parts from China to use to produce MP3 players, within Canada, this purchase increases the component of GDP, while also net exports by the same amount. Therefore, the purchase of electronic parts from China causes in Canadian GDP.5. Limitations of GDP Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transactions and production for that nation. Which of the following scenarios are either not accounted for or measured inaccurately by either the income or the expenditure methods of calculating GDP for Canada? Check all that apply. The costs of overfishing and other overly intensive uses of resources O Federal highway payments The value of baby-sitting services, when the baby sitter is paid in cash and the transaction isn't reported to the government The quality of goods available to consumers decreasing increasing When a Canadian company purchases and imports electronic parts use to produce MP3 players, within Canada, this purchase increases the component of GDP, while also net exports by the same amount. Therefore, the purchase of electronic parts from China causes in Canadian GDP.5. Limitations of GDP Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transactions and production for that nation. Which of the following scenarios are either not accounted for or measured inaccurately by either the income or the expenditure methods of calculating GDP for Canada? Check all that apply. The costs of overfishing and other overly intensive uses of resources O Federal highway payments The value of baby-sitting services, when the baby sitter is paid in cash and the transaction isn't reported to the government The quality of goods avail an overall decrease an overall increase When a Canadian company purchas nic parts from China to use to produce MP3 players, within Canada, this purchase increases no overall change the hile also net exports by the same amount. Therefore, the purchase of electronic parts from China causes in Canadian GDP

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Global Marketing

Authors: Johny K Johansson

5th Edition

0073381012, 9780073381015

More Books

Students also viewed these Economics questions

Question

What is data mining?

Answered: 1 week ago