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"Italy includes cocaine, prostitution and black market alcohol in GDP figures" (The Independent, October 30, 2014). How would you expect the inclusion of these previously excluded underground activities to impact the value of Italy GDP? Decrease the value of GDP. Increase the value of GDP. The inclusion of these items will not change the value of GDP.

"Italy includes cocaine, prostitution and black market alcohol in GDP figures" (The Independent, October 30, 2014). How would you expect the inclusion of these previously excluded underground activities to impact the value of Italy GDP? Decrease the value of GDP. Increase the value of GDP. The inclusion of these items will not change the value of GDP.

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Macmillan Learning "Italy includes cocaine, prostitution and black market alcohol in GDP figures" (The Independent, October 30, 2014). How would you expect the inclusion of these previously excluded underground activities to impact the value of Italy's GDP? Decrease the value of GDP. Increase the value of GDP. The inclusion of these items will not change the value of GDP. Select ALL of the statements that correspond to a deficiency in real GDP per capita as an accurate reflection of the well- being of a nation. It does not take into account the cost of the intermediate goods that go into production. It does not place importance on physical health. It does not consider the quality of the environment. It does not value production that is not intended for sale.
Transcribed Image Text:Macmillan Learning "Italy includes cocaine, prostitution and black market alcohol in GDP figures" (The Independent, October 30, 2014). How would you expect the inclusion of these previously excluded underground activities to impact the value of Italy's GDP? Decrease the value of GDP. Increase the value of GDP. The inclusion of these items will not change the value of GDP. Select ALL of the statements that correspond to a deficiency in real GDP per capita as an accurate reflection of the well- being of a nation. It does not take into account the cost of the intermediate goods that go into production. It does not place importance on physical health. It does not consider the quality of the environment. It does not value production that is not intended for sale.
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