Social Studies, 09.04.2021 03:10 taylor5384
GDP is used by economists to measure a nation's total production, so clearly they don't want the calculation of GDP to miss any significant amounts of
production that take place.
1. What are some production items that the typical measure of GDP might miss? Why?
2. Should these missed items concern us, and, if so, what should we do about it?
3. Scenario: You have a garden in your backyard/window flower box. Provide examples of when the items you grow should or should not be counted in
the GDP calculation? Is it possible to have a situation where both occur (count and not be counted)?
Answers: 3
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GDP is used by economists to measure a nation's total production, so clearly they don't want the cal...
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