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Post answers with an explanation for each of the following cases. In each of the following cases, determine how much GDP and each of its
Post answers with an explanation for each of the following cases.
In each of the following cases, determine how much GDP and each of its components is affected (if at all).
- Debbie spends $200 to buy her husband dinner at the finest restaurant in Boston.
- Sarah spends $1800 on a new laptop to use in her publishing business. The laptop was built in China.
- Jane spends $1200 on a computer to use in her editing business. She got last year's model on sale for a great price from a local manufacturer.
- General Motors builds $500 million worth of cars, but consumers only buy $470 million worth of them.
Next considering that GDP is only a rough indicator of a society's standard of living, provide some suggestions for a better way to measure the well-being of a society. Provide some examples, and use the case you chose as one example.
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