what are the statement by Robert Kennedy on the important aspects that GDP does not include .Provide an explanation of why this is the case, and whether this is a problem.

Q: What are the four components of Gross Domestic Product (GDP) in formula format? List and explain…

A: Gross Domestic Product denotes the total aggregate output that is produced in the country at a given…

Q: Explain why the GDP component does not include stocks and bonds

A: Meaning of Macroeconomics: The term macroeconomics refers to the situation of economic and…

Q: look at this (Links https://www.cbsnews.com/news/why-gdp-fails-as-a-measure-of-well-being/) article…

A: "GDP (gross domestic product) measures the value of all finished goods and services produced within…

Q: GDP

A: GDP is also defined as Gross Domestic Product. GDP is the measure of value of all the final goods…

Q: Why the components of GDP exhibit behaviors much different than GDP itself?

A: Gross Domestic Product refers to the sum total of the goods and services produced in the economy…

Q: Explain why the value of GDP in 2020 would or would not change as a result of the transaction…

A: GDP: The overall monetary or retail worth of all finished goods and services manufactured within a…

Q: Which of the following transcation is excluded from GDP? a. Intel buys a new jb to ferry t workers…

A: The market value or the total money of all the finished goods and services produced within the…

Q: What is the difference between GDP and GNP? Which one is the better measure of income?Why?

A: GDP refers to the final value of goods and services produced in an economy with the given resources…

Q: What is a real GDP? Why do economists prefer to use that as a measurement over regular GDP?

A: Real GDP is the final value of goods and services that are produced in the economy and are ready for…

Q: Explain concisely whether the following statement is true or false: “The GDP of a country does…

A: Answer: The given statement is false. Explanation: GDP (gross domestic product): GDP refers to the…

Q: Which of the following statements about GDP and GNP is WRONG? Cars produced in Canada using US…

A: We have to find GDP and GNP.

Q: Jeremiah expressed his disdain for the economic reports he heard on the news. “All economists care…

A: While it is true that GDP calculations omit such things as the value as opposed to the price of an…

Q: Why are there two measures of GDP.

A: The gross domestic product (GDP) is that the most commonly used indicator of an economy's size…

Q: Define gross domestic product GDP in depth, all the points needed to know when understanding what…

A: GDP is the measure of the total value of services and goods produced within an economy during a…

Q: Which of the following is not included in gdp?

A: Option B Imports are not included in GDP. Imports are substracted from Exports to calculate Net…

Q: What are the components of Gross Domestic Product (GDP)? Give the one-letter symbol and what it…

A: Gross Domestic Product (GDP) refers to the total amount of goods and services produced and sold in…

Q: Given the following: consumption = 700, investment = 300, government expenditure = 150 and net…

A: The economy's GDP is calculated by the following formula, GDP = Consumption + Investment +…

Q: Explain difference between GDP and GNP.

A: GDP is the abbreviation of Gross Domestic Product. GNP is the abbreviation of Gross National…

Q: GDP is often used as a measure of well-being. Is it a reasonable measure of well-being? If so, why…

A: GDP is the total market value of goods and service produced domestically during in a year .  And…

Q: What does GDP not tell us about economy?(analyze critically).

A: GDP stands for gross domestic product. It implies the total value of goods and services produced in…

Q: What components of GDP does Ford selling a Mustang from its inventory affect?

A: Gross Domestic Product (GDP): The total amount of final values of goods and services that are…

Q: Which of the following expenditures would notbe included in GDP?a. Purchase of a new lawnmowerb.…

A: GDP is the Gross Domestic Product which is the final value of all the commodities and services…

Q: What are the four components of GDP?

A: GDP signifies a monetary measure of commodities produced in the domestic borders during a period. It…

Q: Define GDP and distinguish between a final good and an intermediate good. please provide examples.

A: GDP stands for gross domestic product. It is the market value of all the final goods and services…

Q: Define national income? Why do countries keep national income accounts? Distinguish between GDP…

A: National income is the value of final goods and services produced in an economy every year.

Q: What are the three views on GDP and how do they differ from each other? Since they measure output…

A: GDP refers to the total output or income generated by the people of a county in a specific year. It…

Q: How to measure the economic impact of the smart city initiatives on GDP?

A: A Smart City has four important aspects: Society Economy Environment Governance These subjects…

Q: What Are some of the shortcomings of the GDP

A: The Gross Domestic Product (GDP) is the summation of the money value of all the final goods and…

Q: While Gross Domestic Product (GDP) is generally a good indicator of a country’s economic…

A: Gross domestic product refers to the criteria through which economic development of a country is…

Q: In the expenditure approach of measuring GDP, which of these would not be counted as government…

A: Gross Domestic Product is defined as the final value of all the goods and services which are…

Q: Do you think that economists should place a dollar value on “goods” and “bads” when computing GDP?

A: In an economy, GDP is used as the measurement of national income using different methods as they all…

Q: List and explain 4 types of transactions that would not be included in GDP and why they should be…

A: Hey, Thank you for the question. According to our policy we can only answer 1 question per session.…

Q: List some of the reasons why economists should not consider GDP an effective measure of the standard…

A: Standard of living is the element that affects the happiness of people, either these elements are…

Q: Explain three limitations in measuring the real GDP

A: The gross domestic product (GDP) is the standard measure of value-added produced during a certain…

Q: Which one of these items will not be a part of the current year's GDP? а. Spending of the government…

A: Transfer payments are not included in GDP.

Q: GDP is defined as the market value of all final goods and services produced within a country in a…

A: There are three methods to determine the gross domestic product (GDP) of a country: the income…

Q: Explain the difference between GDP and GNP with an example.

A: GDP includes the values of only final goods thus it excludes the value of intermediate goods.

Q: Explain the difference between GDP and GNP. If the residents of Oman generate as much production in…

A: GDP (gross domestic product) of a country is the market value of all final commodities and services…