Explain measure of economic well-being

Assignment Help Microeconomics

Reference no: EM13187129

GDP does not include the value of used goods that are resold. Why would including such transactions make GDP a less informative measure of economic well-being?

Reference no: EM13187129

Questions Cloud

How long ago was the artifact made : A wooden artifact from an ancient tomb contains 60% of the carbon-14 that is present in living trees. How long ago was the artifact made? (The half-life of carbon-14 is 5730 years. Round your answer to the nearest whole number.)

What is the angle of the persons eyes to the top : A building 240 feet tall casts a 100 foot long shadow. If a person stands at the end of the shadow and looks up to the top of the building, what is the angle of the person's eyes to the top of the building (to the nearest hundredth of a degree)?

Accounting and consulting partnership : Hannah is a managing partner of Andrusian Worldwide LLP, an accounting and consulting partnership. Acting within her implied authority, Hannah makes a contract for Andrusian to perform an audit for National Motors Company.

What is delta s for the conversion of supercooled water : What is delta S for the conversion of 10 g of supercooled water at -10 degrees Celsius and 1 atm to ice at 10-10 degrees Celsius and 1 atm?

Explain measure of economic well-being : GDP does not include the value of used goods that are resold. Why would including such transactions make GDP a less informative measure of economic well-being

What type of decision is ken facing : For example, if Ken purchases a Sub 100 and if there is a favorable market, he will realize a profit of $300,000. On the other hand, if the market is un-favorable, Ken will suffer a loss of $200,000. But Ken has always been a very optimistic decis..

Develop a regression equation to forecast : Develop a regression equation to forecast the cost per gallon as a function of the number of gallons sold and estimate the manufacturing cost per gallon for a plant producing 325,000 gallons per year.

Describe how a domestic fast food chain with plans : Describe how a domestic fast food chain with plans for expanding into China would be able to use a forecasting model.

Find the slope of the tangent line to the curve : Use the limit definition of the derivative to find the slope of the tangent line to the curve f(x)=3x^2 at x=1

User Account

All Pages