Please give detail answer I will definitely upvote If Ralph pays someone to mow his lawn and Norton mows his own lawn, what is theimpact on GDP?O a.Neither what Ralph pays nor the estimated value of Norton's mowing is includedin GDP.b.The answer depends on what Norton reports to survey takers.What Ralph pays to have his lawn mowed and the estimated value to Norton ofmowing his own lawn are both included in GDP.O d.Only what Ralph pays to have his lawn mowed is included in GDP.

In GDP calculation, only the services given by other with monetary terms will be included in GDP.…

Answered: se give detail answer I will…

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ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Please give detail answer

I will definitely upvote

If Ralph pays someone to mow his lawn and Norton mows his own lawn, what is the
impact on GDP?
O a.
Neither what Ralph pays nor the estimated value of Norton's mowing is included
in GDP.
b.
The answer depends on what Norton reports to survey takers.
What Ralph pays to have his lawn mowed and the estimated value to Norton of
mowing his own lawn are both included in GDP.
O d.
Only what Ralph pays to have his lawn mowed is included in GDP.

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O all of the above A good idea when delaing with a company you've never heard of before would be to * O study its advertising or other marketing materials carefully expect that it will confirm to teh same standards of reliability as companies you do know O recognize that new companies come along all the time check it's reputation through family, friends, or agencies such as Better Business Bureau A wise plan for budgeting your money is to * 1pc avoid writing a budget down because it will change O allow no money for entertainment or recreation O plan to save a given percentage of your income first buy things that you want first so that you can afford them