If Ralph pays someone to mow his lawn and Norton mows his own lawn, what is the impact on GDP?
A) The answer depends on what Norton reports to survey takers.
B) What Ralph pays to have his lawn mowed and the estimated value to Norton of mowing his own lawn are both included in GDP.
C) Neither what Ralph pays nor the estimated value of Norton's mowing is included in GDP.
D) Only what Ralph pays to have his lawn mowed is included in GDP.
Correct Answer:
Verified
Q22: Which of the following is NOT included
Q23: Roommates Grace and Kelly are sharing household
Q24: How is the value of housing service
Q24: How are intermediate goods accounted for when
Q25: How are grapes treated in GDP terms?
A)
Q26: Over the past few decades Canadians have
Q28: Which of the following non-market goods or
Q31: Sally prepared her own meals during the
Q34: A professional gambler moves from a province
Q39: A professional gambler moves from a province
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