Question

QUESTION 5

1. An important point to understand about using GDP as a measure of a nation's well-being is that there are limitations with this measure. From the list below, select each example that illustrates the limitation of "Non-Market Production."

   		Unreported lawn care business
   		Up-to-date Cell phones
   		Babysitting for neighbors
   		Washing your own car
   		Growing your own food
   		Listening to music
   		Updated MRI (imaging) machines
   		Water Pollution
   		DVD players
   		Smog
   		Relaxing in hammock
   		Car Exhaust Emissions
   		Sales of illegal drugs
   		Vacation trip
   		Taking care of your own kids

Answer 1

Limitations of "Non-Market production"are:

1. Unreported lawn care business

2. Babysitting for neighbors.

3. Washing your own car

4. Growing your own food

5. Listening to music

6. Water pollution

7. Smog

8. Relaxing in hammock

9. sales of illegal drugs

10. Car exhaust emissions

11. Taking care of your own kids.