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GDP is used by economists to measure a nation's total production, so clearly they don't want the calculation of GDP to miss any significant amounts
GDP is used by economists to measure a nation's total production, so clearly they don't want the calculation of GDP to miss any significant amounts of production that take place.
- What are some production items that the typical measure of GDP might miss? Why?
- Should these missed items concern us, and, if so, what should do?
- Scenario: You have a garden in your backyard/window flower box. Provide examples of when the items you grow should or should not be counted in the GDP calculation?Is it possible to have a situation where both occur (count and not be counted)?(15 Points)
For all discussion questions: One main post is required to address the weekly problem.Two subsequent response posts are then required discussing the main posts from your colleagues.The three minimum required posts should be completed on three different days throughout the week.
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