Excluding household and underground production leads to
A) underestimation of both real GDP and nominal GDP.
B) overestimation of real GDP but not nominal GDP.
C) underestimation of real GDP and overestimation of nominal GDP.
D) underestimation of real GDP but not nominal GDP.
E) overestimation of both real GDP and nominal GDP.
Correct Answer:
Verified
Q43: The relationship between real GDP and potential
Q50: A business cycle has two turning points,
Q54: The calculation of GDP excludes the value
Q57: As measured, GDP omits which of the
Q103: Australian real GDP
A)measures the change in the
Q105: In 1959/60,real GDP totaled $244 billion and
Q109: In order to be classified as a
Q110: Babysitting services the oldest son provides his
Q111: Household production,such as baking bread at home,is
Q112: The business cycle has two phases,
A)recession and
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents