Question 8: Current per capita real GDP may be an overstatement of per capita real GDP relative to earlier periods because: more output is now produced in the market sector and less in the household sector. there is reduction in both the time and physical demands of work. more output is now produced by the household sector than by the market. there is a substantial increase in the population size of the U.S. economy.

Question 8: Current per capita real GDP may be an overstatement of per capita real GDP relative to earlier periods because: more output is now produced in the market sector and less in the household sector. there is reduction in both the time and physical demands of work. more output is now produced by the household sector than by the market. there is a substantial increase in the population size of the U.S. economy.

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter11: Gross Domestic Product

Section: Chapter Questions

Problem 7SQ

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