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Discuss each of the components of GDP according to the Expenditures approach. What categories of goods and services are NOT included in the calculation of
- Discuss each of the components of GDP according to the Expenditures approach.
- What categories of "goods and services" are NOT included in the calculation of GDP?
- How does the concept of inflation relate to the growth of GDP?
- How does the concept of unemployment relate to the growth of GDP?
- How does the measurement of GDP, and its annual growth rate, reflect the economic welfare of our society?
- How would you change what is in included or not included in the measurement of GDP to better measure the economic welfare of the people in a society?
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