Although GDP is a reasonably good measure of a nation’s output, it is not an acc

Question

Although GDP is a reasonably good measure of a nation’s output, it is not an accurate measure of a nation’s well-being.

Which of the following options are either not accounted for or are measured inaccurately in calculations of GDP for the United States? Check all that apply.

1. The loss of enjoyment people incur when scenic land is converted to commercial use

2. Funds spent by city governments to renovate their buildings

3. The Brazilian wood that is used for flooring in a new U.S. house

4. The quality of goods available to consumers

5. The value produced when you wash your own car at home

Explanation / Answer

The asnwer is 1 , 4, 5,

so, The loss of enjoyment people incur when scenic land is converted to commercial use , The quality of goods available to consumers and The value produced when you wash your own car at home . these are measured inaccurately or not accounted in calcualtions gdp.

funds spend by city government to renovate thier building is the investment made by the government which must be accounted in GDP and brazillian wood that is used for flooring in a new U.S house is considered as a imports and must be accounting in GDP.

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