How much does measured gdp increase

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Reference no: EM13901329

Measured and true GDP

Suppose that instead of cooking dinner for an hour, you de- cide to work an extra hour, earning an additional $12. You then purchase some (takeout) Chinese food, which costs you $10.

a. By how much does measured GDP increase?

b. Do you think the increase in measured GDP accurately re- flects the effect on output of your decision to work? Explain.

Reference no: EM13901329

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