what are the statement by Robert Kennedy on the important aspects that GDP does not include .Provide an explanation of why this is the case, and whether this is a problem.

Q: For the country of Madagascar government spending was $15,000 in 2007. Consumption was $88,000,…

A: GDP under expenditure method is computed by adding up following items:1. Consumption expenditure of…

Q: look at this (Links https://www.cbsnews.com/news/why-gdp-fails-as-a-measure-of-well-being/) article…

A: "GDP (gross domestic product) measures the value of all finished goods and services produced within…

Q: If you were in charge of regulating the way GDP is calculated, would you include illegal activities…

A: The total monetary or market worth of all finished goods and services produced within a country's…

Q: In 2019, Mr. Francis paid $10m for a house that was built in 2019 and sold that year for $8m. What…

A: The house was builid on 2019 and sold to Mr Francis for 10 Million $. Therefore the house will…

Q: Is the underground economy included in GDP?

A: Underground economy or shadow economy is the economy working under the government system that is not…

Q: What is natural GDP

A: GDP(gross domestic product): It is the sum of all the final goods and services that are produced in…

Q: Are there problems with GDP that should be fixed?

A: GDP is widely used concept to major economy health GDP is total of aggregate production of goods and…

Q: Take as much of your time as you need and do it right. explain everything. Which of the following…

A: Note:  We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: As an economist with the World Bank you have been asked to measure the Gross Domestic Product for…

A: Gross domestic product (GDP) measures the market value of final goods and services produced by an…

Q: Evaluate the statement. GDP does not provide the welfare of the economy.

A: Gross Domestic Product, or GDP, is the sum of the financial values of all the goods and services…

Q: Percentage per GDP Item Malaysia singapore indonesia thailand cambodia Household consumption…

A: Gross domestic product is the total  market value produced domestically during an accounting year .…

Q: Which of the following options are either not accounted for or are measured inaccurately in…

A: The following should be chosen- D. The value of babysitting services, when the babysitter is paid in…

Q: What else does GDP ignore?

A: As per question, GDP ignores:- GDP ignores many services and products produced as part of household…

Q: Describe and compare three methods of measuring a country’s GDP ?

A: Gross domestic product (GDP) refers to the final value of goods and services produced in an economy…

Q: What are the benefits should we get by calculating GDP?

A: The Gross Domestic Product (GDP) measures the market value of all the final goods and services…

Q: Why isn't GDP a good measure for economic well being

A: The gross domestic product is the aggregate of the values of all final goods and services produced…

Q: How could we increase GDP?

A: GDP (Gross Domestic Product): It refers to the value of production of all final goods and services…

Q: Do you think that economists should place a dollar value on “goods” and “bads” when computing GDP?

A: In an economy, GDP is used as the measurement of national income using different methods as they all…

Q: What is economic GDP?

A: Economic growth in a country occurs when more output can be produced within a specific time period.…

Q: What are the main components of measuring GDP with what is demanded? (briefly)

A: aggreagate demand is defined as the total demand of goods and services within an economy. Now, AD =…

Q: Can you give two examples of goods or services that are in GDP and two examples of goods or services…

A: Gross domestic product(GDP) measures the money value of all final goods and services produced in an…

Q: If consumption is 10, investment 5, government purchases 6, exports 8, and imports 7, what is GDP

A: GDP is the gross domestic product.  GDP is the sum of consumption, investment, government spending…