Although GDP is a reasonably good measure of a nation\'s economic well-being, it

Question

Although GDP is a reasonably good measure of a nation's economic well-being, it does not necessarily include all factors that contribute to it. Which of the following factors are not accounted for in calculations of the GDP of the United States? Check all that apply.

Funds spent by state governments to build highways

The parts of a car manufactured in the United States that are produced in Canada

The value produced by doing your own laundry

The leisure time enjoyed by Americans

The costs of overfishing and other overly intensive uses of resources

Explanation / Answer

GDP does not include any such factor which is not paid for or which cannot be monetarily measured.

Among the options available:

1. Funds spent by State governments to build highways - Included in GDP

2. The parts of a car manufactured in the United States that are produced in Canada - Included in GDP

3. The value produced by doing your own laundry - Not included as it is not paid for

4. The leisure time enjoyed by Americans - Not included as it is not paid for

5. The costs of overfishing and other overly intensive uses of resources - Not included as it is not paid for.

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