GDP reflects many things; however,it does not reflect the value of production that takes place in a nonmarket setting.

Question

Quizplus · Accepted Answer

GDP only measures the value of economic activity in market transactions, such as the buying and selling of goods and services. It does not take into account value created in nonmarket settings, such as unpaid care work in a household or volunteer work in a community.

GDP Reflects Many Things; However,it Does Not Reflect the Value