Question
N6 Identify all the items or economic activities which are included in the measuring/computing GDP in the United States. Identify the items or economic activities
N6
Identify all the items or economic activities which are included in the measuring/computing GDP in the United States.
Identify the items or economic activities which are excluded or not reflected in GDP, as measured/computed in the United States.
How does the exclusion of the above items [such as the quality of goods/services produced, the distribution of output/income etc...] affect the use of real GDP or real per capita GDP as a complete or accurate measure of the social-economic well-being of the residents of the United States? Explain fully. Be specific!
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