need help on filling these two charts veyla curiPart VI. Missing from GDPCOSCOGDPdoesn'ttell us..Part VII. Factors Affecting Population GrowthETFactorsaffectingPopulationGrowth

GDP doesn't tell us : The non-market transactions: The non-market transactions such as household…

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2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter2: Choice In A World Of Scarcity

Section: Chapter Questions

Problem 6SCQ: Would an op-ed piece in a newspaper urging the adoption of a particular economic policy be a...

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GDP doesn't tell us :

The non-market transactions: The non-market transactions such as household chores done by the homemaker or the leisure time activities such as gardening etc are not included in the measurement of GDP.
The sustainability of growth : The GDP only tells the growth rate but does not tell if the growth rate is sustainable with the growing population or not.
Degree of inequality : The GDP only tells us the rate of growth in the economy but does not show the inequality of income prevailing in the economy.
Externalities : The externalities are the benefits or harm to the society due to the activities for which they are not paid or penalised. They are not included in the measurement of GDP.