Question
a.)many people think real GDP is a flawed measure of economic well-being because the way we measure real GDP ignores the massive amounts of production
a.)many people think real GDP is a flawed measure of economic well-being because the way we measure real GDP ignores the massive amounts of production that goes on in the home (childcare, cooking and cleaning, personal renovations, leisure creation), this means that we massively undervalue the contribution of womento the economy.
True, false, or uncertain? Explain briefly, does real GDP undervalue the contribution of women to the economy?
B.) some people think thatpublic policy should "just let everyone make their own decisions about mask wearing, social distancing, group gatherings."
Using economics, and this example, explain the problems with the public policy quoted of "let everyone make their own decision." What would most economists suggest instead? Justify the suggestion.
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