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What have been some justifications given for the historical exclusion of household production from the national accounts?
Some reasons have included:
a. households are not producing economic goods;
b. it's too difficult to differentiate household production from consumption;
c. GDP measures just market production; d; containing household production would make too big of a alter in the accounts.
Using a graph of the compensated and uncompensated demand curves, show how the magnitudes of the CV, EV, and ?CS will be related to each other when there is a ceteris paribus incr
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Assignment: Externalities •Consider the following scenario: The city council has just approved the construction of a water park in your town. As city economist, you are responsible
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2. Suppose the price of printing paper for digital cameras has recently risen by 10 percent due to an increase in the cost of materials used in the finish for the paper. As a resu
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why does the quantity of salt tend to be unresponsive to changes in its price
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