Shortcomings of the national income and product accounts include ignoring nonmarket transactions, such as the value of your labor within your own home (for example, the value of cooking your own dinner).

Question

Quizplus · Accepted Answer

National income and product accounts do not account for nonmarket transactions, such as household labor, which means they do not capture the full economic value of activities like cooking at home.

Shortcomings of the National Income and Product Accounts Include Ignoring