Recall the definition of gdp

Assignment Help Macroeconomics
Reference no: EM133281219

Question - First, recall the definition of GDP and how goods and services have to fit the multiple aspects (shown in bold below) of that definition in order to be included in GDP:

GDP represents the market value of final goods and services produced in a country in a given period of time.

For your main post, give an example of a specific good or service that is currently NOT included in GDP but that you think represents substantial economic activity and should therefore be counted in our GDP. Explain what would have to change, using the definition above, in order for that good/service to be included in GDP.

Reference no: EM133281219

Questions Cloud

Explain benefits and challenges associated with social media : Explain the benefits and challenges associated with social media as it relates to the field of education and professional communication
Potential disease processes and signs and symptoms : Discuss the potential disease processes and signs and symptoms related to the disease process that Jose may be exhibiting?
Devise and monitor an action plan for personal development : GRM4007 Personal Development Planning - Gulf College Devise and monitor an action plan for their personal development based on their awareness
Identify someone you think is an effective leader : Identify someone you think is an effective leader. What traits and skills does this individual possess that make him or her effective
Recall the definition of gdp : First, recall the definition of GDP and how goods and services have to fit the multiple aspects (shown in bold below) of that definition
What role does virtue ethics play in nursing application : What role does virtue ethics play in nursing application to the nursing / critical thinking process and provide a nursing process / critical thinking question
Personal ethics and professional ethics in healthcare : What if any is the relationship between personal ethics and professional ethics in healthcare.
Write a detailed explanation of your marketing efforts : Pick any product that you like and develop a promotion that the parent company could use to increase sales. Write detailed explanation of your marketing efforts
Adolescent pregnancy is viewed as high-risk situation : Adolescent pregnancy is viewed as a high-risk situation because it poses serious health risks for the mother and the baby.

Reviews

Write a Review

Macroeconomics Questions & Answers

  Inflation targeting be a good policy

Why might it be difficult for the Fed to formally adopt inflation targeting?  Would inflation targeting be a good policy for the Fed in the present economic environment

  In using the taylor rule

In using the Taylor Rule as a guideline for monetary policy, what are the pros and cons of using forecasted values of inflation and output rather than observed values of these variables?

  Describe the present economic crisis situation in europe

Describe the present economic crisis situation in Europe.  Why has it been so difficult for the Europeans to find a solution to this problem?   Comment on what implications the crisis may have for the rest of the world if Europeans are not able to ag..

  Long-term federal government budget problems

Question:. Explain why there are long-term Federal government budget problems. Explain why the base-line forecast of the CBO is misleading.

  Derive and compare demand curve

Question based on Derive and compare demand curve,  Derive Ambrose's demand function for peanuts. How does it compare with Johnny's demand curve for peanuts?

  Problem based on utility function

Problem based on  Utility Function - Problem,  Answer and explain the following using a diagram which is completely labeled.

  Laffer curve : tax rate and tax revenue

Question based on Laffer Curve : Tax Rate and Tax Revenue,  Do raising tax rates necessarily raise tax revenue? What factors affect how tax revenue changes when tax rates change?

  Problem - income elasticity of demand

Problem - Income Elasticity of Demand,  Interpret the following Income Elasticities of Demand (YED) values for the following and state if the good is normal or inferior; YED= +0.5 and YED= -2.5

  Positive balance of payment

Question Positive Balance of Payment: "Things will look good for the US if we could just get to where we are consistently running a positive Balance of Payments."

  Effect of recession on the investment curve

Comment on the effect of a recession on the investment curve (only) and on the level of savings, investment, and the equilibrium real interest rate in the financial crisis that hits United States first starting in fall 2007.

  Affect of falling domestic investment on trade surplus and

How will a fall in domestic investment affect the trade surplus and net capital outflows in the domestic economy, the trade deficit and capital inflows in the rest of the world.

  Crises in the banking sector and bank run

Banking crises crisis decreases depositors' confidence in the banking system. What would be the effect of a rumor about a banking crisis on checkable deposits in such a country?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd