Although GDP is a reasonably good measure of a nation\'s output, it does not nec

Question

Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transactions and production for that nation. Which of the following scenarios are either not accounted for or measured inaccurately by either the income or expenditure methods of calculating GDP for the United States? Check all that apply. The value of leisure time Federal highway payments The costs of overfishing and other overly intensive uses of resources The Brazilian wood that is used for flooring in a new American house The value produced by doing your own laundry

Explanation / Answer

The answer is:

1. The value produced by doing your own laundry

2. The value of leisure time

3. The costs of overfishing and other overly intensive uses of resources

these three are difficult to estimate value and thus not included in the GDP.

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