Which of the following economic activities are included and which are excluded in calculating this year’s GDP? Explain in each instance. 1. A homeowner who mows her own law. 2. A decline in the average hours worked per week. 3. Business expenditures on pollution control equipment. 4. Income from illegal drug activities. 5. The person who purchases a health care product.
Which of the following economic activities are included and which are excluded in calculating this year’s GDP? Explain in each instance. 1. A homeowner who mows her own law. 2. A decline in the average hours worked per week. 3. Business expenditures on pollution control equipment. 4. Income from illegal drug activities. 5. The person who purchases a health care product.
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 3CQQ
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Which of the following economic activities are included and which are excluded in calculating this year’s
1. A homeowner who mows her own law.
2. A decline in the average hours worked per week.
3. Business expenditures on pollution control equipment.
4. Income from illegal drug activities.
5. The person who purchases a health care product.
#answer the all sub question
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