Which of the components of GDP must increase if we are to experience greater rates of economic growth?If the illegal drug trade was legalized what would happen to GDP?What would happen to GDP if a significant number of house-spouses who were previously staying home to care for their children began taking jobs and placing their children in day-care? Would the nation's well-being necessarily be better off?

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Which of the components of GDP must increase if we are to experience greater rates of economic growth?

Economics For Today

10th Edition

ISBN:9781337613040

Author:Tucker

Publisher:Tucker

Chapter15: Gross Domestic Product

Section: Chapter Questions

Problem 16SQ

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Question

Which of the components of GDP must increase if we are to experience greater rates of economic growth?
If the illegal drug trade was legalized what would happen to GDP?
What would happen to GDP if a significant number of house-spouses who were previously staying home to care for their children began taking jobs and placing their children in day-care? Would the nation's well-being necessarily be better off?

Definition Video Definition Overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period. Video

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