According to many economists, production that occurs in the underground economy a. is accurately accounted for by the Bureau of Economic Analysis in its measurement of GDP b. has no market value and therefore should not be included in GDP c. is given insufficient weight by the Bureau of Economic Analysis, causing GDP statistics to understate true output d. is given too much weight by the Bureau of Economic Analysis, causing GDP to overstate true output
According to many economists, production that occurs in the underground economy a. is accurately accounted for by the Bureau of Economic Analysis in its measurement of GDP b. has no market value and therefore should not be included in GDP c. is given insufficient weight by the Bureau of Economic Analysis, causing GDP statistics to understate true output d. is given too much weight by the Bureau of Economic Analysis, causing GDP to overstate true output
Chapter11: Gross Domestic Product
Section: Chapter Questions
Problem 9SQP
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Question
According to many economists, production that occurs in the underground economy
a. |
is accurately accounted for by the Bureau of Economic Analysis in its measurement of |
|
b. |
has no market value and therefore should not be included in GDP |
|
c. |
is given insufficient weight by the Bureau of Economic Analysis, causing GDP statistics to understate true output |
|
d. |
is given too much weight by the Bureau of Economic Analysis, causing GDP to overstate true output |
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