The national income and product accounts ignore nonmarket transactions, investments in human capital, and the use of people's leisure time.

Question

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The national income and product accounts only consider market transactions and do not include nonmarket transactions such as unpaid household work, volunteer services, and informal or illegal economic activities. They also do not account for investments in human capital, such as education and training, and the value of people's leisure time.

The National Income and Product Accounts Ignore Nonmarket Transactions, Investments