1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
gizmo_the_mogwai [7]
3 years ago
7

According to most​ economists, is it a serious shortcoming of GDP that it does not count household production or production in t

he underground​ economy?
Business
1 answer:
Ghella [55]3 years ago
5 0
<h2>No. "Household production" does not contribute much to the GDP.</h2>

Explanation:

To arrive at the reason, first we need to understand the term "GDP" and "shortcoming"

Shortcoming means failure to meet certain expectations.

GDP: It is the snapshot of the economy which speaks about the production in certain period.

Since the household production does not come under market transaction and since GDP involves only market transaction, household production cannot be considered and thus it is not a serious reason for shortcoming of GDP.

You might be interested in
Which is not true of a perfectly competitive market? a. At the long-run equilibrium, economic profit is less than accounting pro
shtirl [24]

Answer:

B is the correct option.

Explanation:

In theory, the perfect market is the structure in which all the firms sell identical products,They all are price takers, the market share doesn't influence the prices, firms can enter or exit the market without cost and resources are perfectly mobile. No markets are in the sphere of the perfect competition model. so they are classified as imperfect. The imperfect and perfect market is the outcome of post-classical economic thought of the Cambridge tradition.

5 0
2 years ago
Why don't many developing countries benefit from the spread of free trade?
Annette [7]
My best guess is A because they maintain high tariffs on the agriculture custom many developing countries export.
3 0
2 years ago
Read 2 more answers
During 2013, its first year of operations, Neko's Bakery had revenues of $60,000 and expenses of $33,000. The business paid divi
loris [4]

Answer: the correct answer is $7,000

Explanation:

Revenues          $60,000

Expenses         ($33, 000)

Paid Dividens   ($20,000)

Equity                   $7,000   ($60,000-$33,000-$20,000)

4 0
3 years ago
As a junior congress person you have been asked to help promote a bill to allow casino gambling in your state. There is much opp
Julli [10]

In such a case, the first step for Junior to conduct effective distributive negotiation would be to adequately prepare for it. As he was assigned to promote a bill to allow casino gambling in the state, he should know thoroughly about the pros and cons that involve this activity and also seek to understand the arguments of who is against the bill's approval. Knowing your negotiating adversary will make it much easier to find your flaws and weaknesses so that you can bargain effectively. Junior could at first set up an assembly and then consistently present the positive points, presenting solutions to the opposition's problems and showing relevant points that the opposition did not expect. Some bargains could be the focus on security that these establishments would have, surveillance, the creation of new jobs, the stipulation of the opening hours of the Casino, among others.

6 0
3 years ago
Explain why an increase in wages is likely to increase demand but may reduce supply..... plz :)) i have a cz tomorrow aND I nEeD
natima [27]

Answer:

see below

Explanation:

An increase in wages increases the amount of disposable income for individuals. It means that households will have more money to spend. An increase in wages results in increases in the people's ability to buy, which increases the demand for goods and services.

Wagers are an expense to suppliers. An increase in wages will increase the cost of production. When production cost increases, suppliers' profit margin decreases. Since supplies are motivated by profits, a decrease in profit margins may result in reduced production.

6 0
3 years ago
Other questions:
  • Imagine that the economy is in long-run equilibrium. Then, perhaps because of improved international relations and increased con
    9·1 answer
  • The main provision of the Occupational Safety and Health Act states that each employer should furnish each employee a place of e
    9·1 answer
  • In the​ 1950s, the economist Bela Balassa compared 28 manufacturing industries in the United States and Britain. In every one of
    12·1 answer
  • "Suppose that the demand and supply curves have similar steepness. If demand for the good increases slightly and at the same tim
    10·1 answer
  • The following information pertains to Alpha Computing at the end of 2015:
    6·1 answer
  • Transent Foods announced that its current sales are $1,233,450 this year. The company forecasts a growth rate of 16 percent for
    7·1 answer
  • A manufacturing company applies factory overhead based on direct labor hours. At the beginning of the year, it estimated that fa
    13·1 answer
  • What are some products and services that may be purchased by calling the eight companies customer service number
    7·1 answer
  • quantum mechanics shop sells a bicycle to reniel, a costumer who uses a local card(a national credit card, but not issued by an
    13·1 answer
  • Costs that are shared by multiple cost objects in a company are known as ______ costs.
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!