Question

7. Limitations of GDP Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transactions and production for that nation. Which of the following scenarios are either not accounted for or measured inaccurately by either the income or expenditure methods of calculating GDP for the United States? Check all that apply. The loss of enjoyment people incur when scenic land is converted to commercial use The components of an iPod that are produced in China The quality of goods available to consumers The value of babysitting services, when the babysitter is paid in cash and the transaction isn't reported to the government Funds spent by city governments to renovate their buildings

          7. Limitations of GDP

Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transactions and
production for that nation.

Which of the following scenarios are either not accounted for or measured inaccurately by either the income or
expenditure methods of calculating GDP for the United States? Check all that apply.

The loss of enjoyment people incur when scenic land is converted to commercial use
The components of an iPod that are produced in China
The quality of goods available to consumers
The value of babysitting services, when the babysitter is paid in cash and the transaction isn't reported to the
government
Funds spent by city governments to renovate their buildings

7. Limitations of GDP

Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transactions and
production for that nation.

Which of the following scenarios are either not accounted for or measured inaccurately by either the income or
expenditure methods of calculating GDP for the United States? Check all that apply.

The loss of enjoyment people incur when scenic land is converted to commercial use
The components of an iPod that are produced in China
The quality of goods available to consumers
The value of babysitting services, when the babysitter is paid in cash and the transaction isn't reported to the
government
Funds spent by city governments to renovate their buildings

Added by Roberto O.

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