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Effect on output of decision to work

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Reference no: EM131213230

Suppose that instead of cooking dinner for an hour, you decide to work an extra hour, earning additional $12. You then buy some Chinese food, which costs you $10.

1. By how much does measured GDP increase?

2. Do you think the increase in measured GDP accurately reflects the effect on output of your decision to work? Explain.

Reference no: EM131213230

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