If Mr. Keating quits his job as a teacher to homeschool his own children, GDPa. stays the same because he is engaged in thesame activity.b. rises because he now pays lower income taxes.c. falls because his market income decreases.d. could rise or fall, depending on the value of homeschooling

Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter15: Measuring A Nation's Income
Section: Chapter Questions
Problem 6CQQ
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If Mr. Keating quits his job as a teacher to home
school his own children, GDP
a. stays the same because he is engaged in the
same activity.
b. rises because he now pays lower income taxes.
c. falls because his market income decreases.
d. could rise or fall, depending on the value of home
schooling

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