One of the features of the new approach is that, now BEA uses the geometric average of fixed weight indexes and uses two base years to calculate the growth rate of real GDP between two consecutive years.
Explanation:
In both actual and nominal GDP, the U.S. Economic Analysis Department results. It estimates the real United States. GDP is a fixed base year annual rate. Imports and international sales from American businesses and people are exempt.
GDP reflects the degree to which the economy generates production. Global warming is not generated and not part of GDP. The effect of environmental damage is not measured accurately. The loss should not be included in GDP and the calculation of environmental damage has not been accepted.
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Answer:
Casey would prefer option 1; that he pays the premiums ($8,000). Even if Casey cannot deduct his insurance premiums as medical expenses, his income will only be reduced by $8,000. If he decided to take option 2, his income would be reduced by $8,800 (= $10,000 - 12%), so he is saving $800 by taking option 1.
On the other hand, Jean would prefer option 2; that her salary is reduced by $10,000 and her employer pays the premiums. By choosing option 2, Jean is going to lose $6,500 (= $10,000 - 35%). If she chose option 1, her income would be reduced by $8,000, so she is saving $1,500 by choosing option 2.
