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Macroeconomics 5th Edition by Olivier Blanchard
Edition 5ISBN: 978-0132159869Macroeconomics 5th Edition by Olivier Blanchard
Edition 5ISBN: 978-0132159869 Exercise 8
Measured and true GDP Suppose that instead of cooking dinner for an hour, you decide to work an extra hour, earning an additional $12. You then purchase some (takeout) Chinese food, which costs you $10.
a. By how much does measured GDP increase
b. Do you think the increase in measured GDP accurately reflects the effect on output of your decision to work Explain.
a. By how much does measured GDP increase
b. Do you think the increase in measured GDP accurately reflects the effect on output of your decision to work Explain.
Explanation
Verified
Verified
Gross Domestic Product ( GDP ) is the to...
Macroeconomics 5th Edition by Olivier Blanchard
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