Why might a homemaker be upset with the way Gross Domestic Product (GDP) is calculated?
A) because the government always underestimates the dollar value of the household services produced at home and outside the market that are included in the Gross Domestic Product (GDP) statistic
B) because household services produced at home and outside the market are only included in Gross Domestic Product (GDP) if the homemaker is a man
C) because household services produced at home and outside the market that are sold to others are not included in Gross Domestic Product (GDP)
D) because none of the household services produced for at home and outside the market are included in Gross Domestic Product (GDP) even though they contribute greatly to the welfare of the family

Question

Quizplus · Accepted Answer

Homemakers may feel that the way GDP is calculated does not accurately reflect the economic contribution of their work. Household services produced at home and outside the market, such as cooking, cleaning, childcare, and elder care, are not included in GDP. Even though these services are vital to the well-being of the family, they are not considered part of the formal economy and thus do not contribute to GDP.

Why Might a Homemaker Be Upset with the Way Gross